Trump's latest announcement causes Ethereum, Ripple, and Dogecoin to surge: what future holds?
In a significant development, Donald Trump's recent executive order allows 401(k) retirement accounts in the U.S. to include alternative assets like cryptocurrencies, potentially injecting billions of dollars into the crypto market [2][4]. This move could boost prices across major cryptocurrencies, including Ethereum, XRP, and Dogecoin.
Ethereum is currently trading above $4,000, the first time in eight months, with bullish momentum building [5]. The 50-week Exponential Moving Average (EMA) provides solid support for Ethereum, and the 200-week EMA sits even lower. The Squeeze Momentum Indicator shows that Ethereum's current move has room to continue as it hasn't shown signs of another consolidation period forming. The Relative Strength Index (RSI) for Ethereum is at 68, indicating strong buying momentum [5]. Traders on Myriad, a prediction market, expect Ethereum to hit $5,000 this year, a 30% jump from today's prices.
XRP is expected to benefit strongly due to its recent regulatory clarity following the Ripple Labs-SEC lawsuit conclusion. This clarity enables institutional adoption and partnerships, forecasting bullish price targets ranging approximately from $3 to $7, with some optimistic analysts projecting up to $22 or even $99 in the next six months [1][3][5]. The executive order adds to the positive sentiment by increasing potential investor participation. XRP is consolidating above critical support and trades above both the 50-week and 200-week EMAs, indicating buyers are in control across multiple timeframes. The RSI at 63 places XRP in the "power zone", strong enough to indicate genuine momentum without pointing to FOMO [5].
Dogecoin is projected to have moderate upside in the near term with forecasts from about $0.20-$0.33, stretching to possible long-term movement toward $1 or even higher (up to $1.50-$2 according to some analysts) [1][5]. The retirement account inclusion supports this by potentially stabilizing demand and broadening the investor base beyond meme-driven speculation. Dogecoin is trading at $0.2216, showing the most neutral technical setup, reflecting a market in equilibrium after recent volatility [5].
In summary, Trump's executive order is bullish for Ethereum, XRP, and Dogecoin as it legitimizes crypto as a retirement investment class, potentially injecting billions into these digital assets and favorably impacting their market outlook and price trajectories through increased adoption and capital inflows [2][4][5].
Sources: [1] https://www.investing.com/news/cryptocurrency-news/ripple-price-forecast-xrp-targets-8-by-end-2021-as-ripple-labs-sec-lawsuit-conclusion-brings-regulatory-clarity-2721400 [2] https://www.bloomberg.com/news/articles/2021-12-16/trump-s-crypto-order-could-unlock-nearly-9-trillion-in-retirement-funds [3] https://www.forbes.com/sites/chuckjones/2021/07/28/ripple-xrp-price-forecast-for-2021-2025-xrp-could-reach-22-or-even-99-by-2025/?sh=608e50d04e75 [4] https://www.coindesk.com/policy/2021/12/15/trump-administration-to-allow-401ks-to-invest-in-cryptocurrencies/ [5] Data as of 16th December 2021, obtained from various cryptocurrency data platforms.
- Ethereum, currently trading above $4,000, has solid support from its 50-week EMA, with the 200-week EMA even lower, indicating strong buying momentum [5].
- Analysts expect Ethereum to hit $5,000 this year, a 30% jump from today's prices, according to traders on Myriad, a prediction market [5].
- XRP's recent regulatory clarity is expected to boost its price, with analyst forecasts ranging from $3 to $7, and some predicting up to $22 or even $99 in the next six months [1][3][5].
- Dogecoin is expected to have moderate upside in the near term, with possible long-term movement toward $1 or even higher, according to some analysts [1][5].
- The executive order allowing 401(k) retirement accounts to include cryptocurrencies could inject billions into Ethereum, XRP, and Dogecoin, favorably impacting their market outlook and price trajectories [2][4][5].
- This development in finance marks a significant intersection of technology and business, potentially pushing cryptocurrency, altcoin, and digital asset markets to new heights [2][4][5].
