Andrew Baehr, a former partner at Risk Premium Investments, said that the favorable crypto regulatory outlook will be the main driver of price movements in the cryptocurrency market in 2025. The token XRP, which has been the focus of litigation at the Securities Exchange Commission in recent years, rose sharply after Trump's victory and rose again after the chairperson of the Securities Exchange Commission, Gensler, announced that he would resign after Trump took office. In addition, Andrew Baehr also pointed out that the market generally expects the Securities Exchange Commission to deregulate in 2025, more crypto projects will come online, decentralized projects powered by stablecoins will require blockchain to run, and Ethereum has emerged as a possible candidate.