What happened?
President Donald Trump signed an executive order allowing 401(k) accounts to invest in cryptocurrencies. This order instructs agencies like the SEC to update their regulations to accommodate these investments. As a result, the baseline XRP price prediction has become more optimistic this week.
Who does this affect?
The executive order affects 401(k) account holders and the broader cryptocurrency market. It opens the possibility for retirement savings to include alternative assets like crypto, potentially impacting millions of Americans. This could lead to significant capital inflows into cryptocurrencies, especially XRP.
Why does this matter?
The inclusion of cryptocurrencies in 401(k) plans could inject billions into the market, driving up demand and potentially prices. A surge in trading volumes and interest around XRP suggests that investors are responding positively to these changes. If a spot XRP ETF gets approved and included in these retirement accounts, it could significantly boost XRP’s price and market position.