XRP sets a new price record after 7 years
XRP, the cryptocurrency linked to Ripple Labs, just reached its highest price since 2018, trading at 2.74 USD. In just 30 days, the price $XRP has increased more than 5 times, achieving a 436% increase. Notably, in the past 24 hours, XRP rose 45% and increased 92% over the week, outpacing other top coins like $BTC (+40%) and $DOGE (+176%).
The main driving force behind XRP's price
• Donald Trump's election victory: The market is optimistic about Trump's pro-crypto stance, including easing harsh regulatory policies.
• Gary Gensler announces resignation: The SEC chairman, known for his tough actions against #Ripple and XRP, will leave office on January 20, 2025. This raises hopes for regulatory clarity and the potential approval of a spot ETF fund for XRP.
XRP outpaces major competitors
While Bitcoin (97,180 USD) and Dogecoin (0.43 USD) also saw significant increases, XRP's outstanding performance indicates a strong shift in market sentiment. This could mark the beginning of a breakthrough development phase for XRP, especially as new regulations create a more favorable environment for its ecosystem.
The future of XRP
If the #ETF spot XRP is approved and regulations continue to support the industry, XRP could maintain a strong upward trend, marking a historic turning point for Ripple and the cryptocurrency community.