- XRP rose 88.13% in a month, hitting $1.04 with a $59.25B market cap post-Trump’s election, signaling renewed investor optimism.
- Cardano (ADA) surged 120.12% in 30 days, reaching a $26.50B market cap, driven by anticipation of crypto-friendly U.S. policies.
- Solana (SOL) saw a 43% monthly rise to a $104B market cap, reflecting investor confidence in pro-crypto regulatory prospects.
Donald Trump’s victory in the 2024 U.S. presidential election has sparked optimism across the cryptocurrency market. Key U.S.-based digital assets, including Cardano (ADA), Solana (SOL), and XRP, have recorded significant price surges following the election. Ripple CEO Brad Garlinghouse credited this positive trend to growing confidence in the potential for pro-crypto policies under Trump’s administration.
U.S.-Based Cryptocurrencies Outperform the Market
Notably, Garlinghouse highlighted that U.S.-based cryptocurrencies have outpaced the broader market since Election Day. He emphasized that assets like ADA, SOL, and XRP have seen heightened investor interest.
XRP, for instance, has climbed 25.71% in the last 24 hours, trading at $1.04. Over the past month, XRP has risen by an impressive 88.13%, bolstering its market cap to $59.25billion.
Meanwhile, Cardano (ADA) has experienced a dramatic 22.59% increase in the past day. The altcoin’s market cap now stands at $26.12 billion, supported by a 120.12% surge over the past 30 days. Solana (SOL) has also gained momentum, rising over 43% in the past month to reach a market cap of $104 billion.
Anticipated Policy Shifts Boost Market Sentiment
Consequently, the crypto community’s optimism is fueled by expectations of regulatory changes under Trump’s administration. Reports suggest Trump’s advisers are considering appointing industry-friendly figures to key regulatory positions, including the U.S. Securities and Exchange Commission (SEC). These leadership changes could address longstanding tensions between regulators and the cryptocurrency sector.
Moreover, Garlinghouse pointed to the potential for a more favorable regulatory environment, which could benefit both investors and the wider crypto ecosystem. This shift could encourage innovation while fostering trust within the industry.
Market Trends Reflect Increased Investor Confidence
Therefore, the post-election surge reflects a renewed sense of investor confidence in the U.S.-based digital assets. As these cryptocurrencies continue to outperform global competitors, the focus remains on upcoming federal appointments and potential policy changes.
In addition, market watchers believe these developments could shape the future trajectory of the cryptocurrency industry.
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