Market participants appear to be hedging profits, seeing how the price of XRP has improved since its launch recent parabolic rally. TheXRPguy analyst outlined seven reasons why those who have not yet secured profits should hold off on selling their coins, suggesting that there are more parabolic gains ahead.

Further increases in XRP prices are coming – the analyst lists reasons why it is not worth selling

In Post XTheXRPguy suggested that further XRP price increases are ahead. He listed seven things that market participants should wait for before selling their coins. The first thing he mentioned was the launch of RLUSD. RLUSD is a dollar-backed stablecoin that is expected to be listed soon on the XRP Ledger (XRPL) exchange when The wave is approaching Fresh York Approval.

RLUSD could provide a significant boost to the price of XRP as it will provide more liquidity to the coin’s ecosystem. The second event TheXRPguy mentioned is Trump’s inauguration, which is scheduled to take place on January 20 next year. Trump’s entry into the White House presents an sanguine outlook for coins like XRP due to his pro-crypto approach.

The third event the analyst mentioned is the official departure of Gary Gensler from the US Securities and Exchange Commission (SEC). Interestingly, Gensler will step down the same day Trump takes office. His departure is bullish for the XRP price considering he spearheaded a lawsuit against Ripple that previously had a negative impact on the cryptocurrency.

TheXRPguy expects the Ripple case to end after Gensler’s departure. He listed it as the fourth event that market participants should wait for before selling. Indeed, there is a high probability that the lawsuit may end in the so-called Donald Trump nominated pro-crypto Paul Atkins will become the next chairman of the US SEC.

Three other reasons why you shouldn’t sell XRP yet

TheXRPguy has put it on the list altcoin seasona potential partnership with Ripple and the approval of an XRP ETF are events to wait for before selling XRP. Blockchain Center Data shows that the altcoin season has begun, which is sanguine for XRP as it can see significant gains during this period.

Meanwhile, the analyst predicts that Ripple will eventually partner with a vast bank for payment services. This development will be bullish for the price of XRP as it will mean greater adoption of XRP among institutions. The analyst also mentioned the approval of the XRP ETF, which would provide a bullish outlook for the cryptocurrency.

Bitwise, Canary Capital, 21Shares and Tree of Wisdom all have applied for the Spot XRP ETF. Given Atkin’s pro-cryptography stance, this approval may be extended to the next administration. Moreover, the court has already ruled that XRP is not a security.

At the time of writing, XRP is trading around $2.39, down more than 9% in the last 24 hours, according to data from CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com