HomeCryptocurrency NewsXRP is approaching $1: is it time to buy?
XRP is approaching $1: is it time to buy?
#XRP is approaching $1 and is currently trading around $0.73. The question is, is it time to buy?
Today's #Cryptocurrency News - XRP is approaching $1: Is it time to buy?
Several events have caused XRP to surge by over 19% in the last 24 hours alone.
The rise of #bitcoin has caused the market to fall, and #Ripple XRP is no exception.
Short sellers recently lost $222 million worth of bitcoin and liquidated their positions when the crypto hit an all-time high of $89,956.88. XRP maintained its strong uptrend, reaching $0.7354, its highest price since March 14.
The token rose for the fourth day in a row, fueled by optimism in the cryptocurrency market. At its peak, XRP was up more than 80 percent from its lowest price this year.
The rise coincided with a broad rally in the cryptocurrency sector, with the market capitalization of all cryptocurrencies surpassing $3 trillion for the first time since 2021.
The recent rise in the price of Ripple is largely due to the election of Donald Trump, which could ease the legal challenges facing the network. Trump plans to replace SEC Chairman Gary Gensler with a more cryptocurrency-friendly regulator, which could lead to the withdrawal of the SEC's appeal of the October court ruling.
the new SEC leadership could increase the likelihood that spot XRP ETFs will be approved as early as the first half of next year.
XRP price growth was also boosted by developers' hints of future stable dirhams, after Ripple announced the release of RLUSD, a stable coin backed 1:1 by the U. S. dollar and regulated by U. S. authorities.
In terms of market activity, open interest in XRP futures exceeded $1 billion for the first time since Sept. 30, indicating growing demand.
According to CoinCarp, the number of XRP holders has been steadily increasing, surpassing 4.8 million people.
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