One of the key factors contributing to this growth was the approval of the RLUSD stablecoin by the New York State Department of Financial Services (NYDFS) from Ripple. RLUSD is pegged to the US dollar and is intended for use in Ripple's payment system, which may increase demand for XRP and strengthen its market position.
Additionally, the appointment of Paul Atkins, known for his support of cryptocurrencies, as Chairman of the U.S. Securities and Exchange Commission (SEC) instills optimism regarding the future regulation of the crypto industry. It is expected that under his leadership, the pressure on cryptocurrency-related companies, including Ripple, will decrease, which could positively impact the value of XRP.
These events contribute to the strengthening of XRP's market position and increasing interest from investors.