Experts are considering the possible impacts of Donald Trump's new term on the crypto market, including Solana, XRP, and the new Trump memecoin.
Inauguration Impact on the Market
On January 19, just a day before Donald Trump’s inauguration, there are rumors that the new administration will be more friendly towards the crypto market. On Friday, Bitcoin reached its highest value this year, which sparked investor interest. Trump is expected to sign over 100 executive orders immediately after taking office, potentially including measures related to Bitcoin and the crypto market as a whole. While there are concerns about possible manipulation schemes, their likelihood is considered low.
Official Trump Price Analysis
Donald Trump recently announced a new cryptocurrency—the Trump memecoin. Amid the hype and despite fraud concerns, the token’s value reached a market cap of over $38 billion. The demand is expected to remain strong on January 20 due to high trader confidence. It's forecasted that the memecoin’s price could rise to $70-80.
Solana and XRP Price Analysis
Solana and XRP prices are also showing growth. Solana is exceeding near resistance and trading at $270, showing an 8.9% increase. Signals of an overheated market might cause a slight test of the support level but could reach $350 in the longer term. XRP is also rising on expectations of positive SEC policy changes under new leadership, currently consolidating at $3.2. To continue an upward trend, XRP's price needs to stay above the EMA20 line.
As Donald Trump's new term approaches, investors closely monitor the potential for crypto market growth. Particular interest is focused on the new memecoin as well as Solana and XRP's growth prospects. The impact of new political decisions on the market will become clearer in the coming days.
