The cryptocurrency market concluded the week with significant changes following the U.S. elections. Key news revolves around Bitcoin price increase and XRP roles.
BTC and the Crypto Market Rise After U.S. Elections
Donald Trump's victory in the U.S. presidential election positively impacted the crypto market. Bitcoin reached a new high due to these events. In the U.S. Congress, 242 pro-crypto candidates were elected, boosting interest in digital assets.
Regulatory Expectations and Market Speculations
With the victory of pro-crypto candidates, expectations continue for the U.S. SEC to drop many digital asset lawsuits. Additionally, there are suggestions that SEC Chairman Gary Gensler might resign under the Trump administration.
Ripple's XRP and Other Developments
Due to Trump's pro-crypto stance, Ripple's XRP experienced significant growth. The XRP price rose by 14% this week. Ripple plans to launch a Dirham-backed stablecoin in the UAE. Dogecoin also surged significantly following Elon Musk’s role in Trump's administration. These changes in the market led to active discussion within the crypto industry.
The impact of the U.S. elections on cryptocurrency markets continues to be closely monitored by investors and industry representatives, providing important insights into future regulations and market dynamics.
