The crypto market closed another week with remarkable developments after the US elections. Bitcoin (BTC) 
$76,601 While its price increased significantly after Donald Trump was elected as the 47th US president, the general market also showed a strong upward trend. At the same time, Ripple 
$0.553838‘s XRP also witnessed significant developments this week.
BTC and Crypto Market on the Rise After US Elections
This week, Republican Donald Trump’s win in the 2024 US presidential election was considered a positive sign for the overall cryptocurrency market. BTC reached a new all-time high following Trump’s victory. With the completion of the American elections, 242 pro-crypto candidates were elected in the US House of Representatives and 14 pro-crypto candidates in the Senate. The results of the US presidential election gave a huge boost to the market due to policies and stances on digital assets.
Ripple CEO Brad Garlinghouse stated that he has great optimism about the cryptocurrency industry after the Republican victory.
Regulatory Expectations and Market Speculations
In light of the victory of pro-crypto candidates, expectations remain that the US SEC will drop most digital asset cases. Additionally, the possibility of SEC chairman Gary Gensler resigning under the Trump administration has also been talked about in the market this week.
Ripple’s XRP and Other Developments
Ripple’s XRP has experienced significant developments this week due to Trump’s pro-crypto stance. The XRP price rose 14% over the past week to reach $0.57. Ripple also announced plans to launch a Dirham-backed stablecoin in the United Arab Emirates.
dogecoin 
$0.210222increased by nearly 50% after Elon Musk’s role in DOGE in Trump’s cabinet, reinforcing investors’ confidence in the price movement of this asset. Additionally, BTC wallets accumulated approximately $145 million worth of BTC this week.
The US Federal Reserve’s cut in interest rates by 0.25 basis points increased optimism for risk assets and contributed to BTC reaching a new all-time high. BTC is up 13% this week to $77,507.
These developments sparked widespread debate within the digital asset industry and created activity in the market.
These developments in the crypto market continue to be closely followed by investors and industry representatives. The impact of the US elections on cryptocurrency markets offers important clues about future regulations and market dynamics.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
