As the US Federal Reserve (Fed) is expected to adjust the pace of interest rate hikes next year, the price of XRP is barely maintaining the 3,000 won level. However, experts forecast that the possibility of an early termination of the lawsuit and the potential for an upward trend, as Paul Atkins, appointed by President-elect Donald Trump, will lead the SEC (Securities and Exchange Commission).
At 4:15 pm on the 31st, XRP was traded at 3,010 won on the virtual asset exchange Upbit. At the same time, it was 3,007 won on Bithumb. The virtual asset tracking website CoinMarketCap recorded $2.03.
This year, the virtual asset market has been setting new highs every day, buoyed by the 'Trump rally' after the US presidential election last month. However, the rally was dampened after the Fed announced on the 18th that it would adjust the pace of interest rate hikes next year.
However, experts evaluated that the upside of the XRP price next year should be left open. This is because the legal dispute between XRP and the US SEC will determine the future direction of the XRP price, and if Paul Atkins, appointed by President-elect Trump, is appointed as the next SEC chairman, there is a high possibility that the lawsuit between XRP and the SEC will be terminated early. Paul Atkins is known as a typical deregulation advocate and a supporter of virtual assets.
The virtual asset specialized media CoinGape reported that "the market is suggesting the possibility of an additional rebound in XRP" and "virtual asset market analyst Egrag Crypto expects XRP to reach $6 (about 8,830 won) by March next year." It also added that "there is also a possibility that it will reach between $13 and $27 in this bullish market."
