XRP Price Soars Amidst Regulatory Optimism and Market Growth
- XRP has surged to a price of $2.74, the highest since January 2018, and has gained over 400% in the last 30 days.
- The surge in XRP is attributed to the anticipation of regulatory clarity and the potential for spot XRP ETFs.
- XRP has surpassed Tether in market capitalization, becoming the third-largest cryptocurrency.
- The departure of SEC Chair Gary Gensler and the potential approval of Ripple's RLUSD stablecoin are driving XRP's price momentum.
- XRP's rally is part of a broader altcoin season, as Bitcoin dominance falls below its two-year support line.
- Analysts predict XRP could reach $2.57 by the end of December and expect further price catalysts in 2025.
- Summary :
Ripple's XRP token has experienced a significant surge in price, reaching its highest level since January 2018. The price jump comes after Securities and Exchange Commission (SEC) Chair Gary Gensler announced his resignation, leading to optimism among XRP backers that regulatory clarity will be achieved. XRP's price has increased by 45% in the past 24 hours and 92% in the past week, with a 30-day jump of 436%. It has also surpassed Tether's market capitalization, making it the third-largest cryptocurrency. The surge in XRP's price is attributed to expectations of a more favorable political climate for cryptocurrencies under President-elect Donald Trump. Additionally, anticipation of the approval of Ripple's RLUSD stablecoin and the possibility of XRP exchange-traded funds (ETFs) have contributed to the price rally. XRP's performance is outpacing other major cryptocurrencies like Bitcoin and Dogecoin.
Sources :
- Decrypt
- CoinTelegraph
- CoinTelegraph
- TheBlock
- Decrypt
- CoinTelegraph
- Decrypt
- TheBlock
- Decrypt
- CoinTelegraph
