Brad Garlinghouse, the boss of Ripple, said that the price of the cryptocurrency XRP soared 70% after the election, mainly because of the current policy support for cryptocurrencies, more transparent regulation, and the re-listing of XRP on the Robinhood platform.
Brad also mentioned that he felt that President Trump was very friendly to the cryptocurrency industry and nicknamed him "Crypto President". He said that President Trump likes new technologies and new companies such as blockchain, which makes him full of expectations for the future.
Brad explained that cryptocurrencies like XRP have risen quickly because of much less regulatory pressure. He believes that the US Securities and Exchange Commission was too strict before, and now it has relaxed, so the price has gone up.
Now the price of XRP has risen to its highest point in two years, approaching $1, and some experts say that if it breaks the $1 mark, the price will continue to rise, possibly to $1.5.
In addition, XRP trading in the derivatives market has also become popular, with untraded contracts increasing by 13% to $1.5 billion. This is mainly because some large investors, also known as "whales", have begun to buy and sell XRP in large quantities. This kind of big move generally means that a large institution is participating in the transaction or making a big investment plan.
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