As of December 12, 2024, the price of XRP is at $2.42 USD, up 0.03419% from its previous close.
Recently, Ripple received approval from the New York Department of Financial Services to launch its stablecoin RLUSD. Ripple CEO Brad Garlinghouse announced that RLUSD would soon be available on exchanges and partners. This approval drove the price of XRP up by 3.9%, reaching $2.43.
Additionally, the election of President Donald Trump and the appointment of pro-crypto Paul Atkins as SEC Chair raised hopes that legal pressure on Ripple would ease. This could potentially lead to the dismissal of the SEC case against Ripple, which was previously accused of selling unlicensed securities.
However, the price of XRP has been volatile recently, with a 5% drop in the past 24 hours to $2.22. This drop occurred despite gains in Bitcoin and Ethereum, and was caused by profit-taking after the previous price surge.
Overall, the latest regulatory and political developments provide a positive outlook for Ripple and XRP, although price volatility remains a factor that investors should be aware of.