02629803130XRP why has it skyrocketed??

Market cap has multiplied several times! A divine coin!

Let's look at this from several aspects: regulatory expectations improvement, legal progress, institutional interest, and market sentiment:

1. Changes in the regulatory environment: Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), will step down on January 20, 2025, and the market expects that the new leadership may adopt a more lenient regulatory policy towards cryptocurrencies, boosting investor confidence.

2. Legal litigation progress: In July 2023, the court ruled that the sale of XRP on digital trading platforms is not considered a security, and Ripple has achieved partial victory in its lawsuit against the SEC, alleviating market concerns about the legality of XRP.

3. Increased interest from institutional investors: Several institutions have applied to launch XRP exchange-traded funds (ETFs), such as Bitwise, Canary Capital, and 21Shares, showing recognition of XRP and attracting more investor attention.

4. Market sentiment and speculative activity: The prices of major cryptocurrencies like Bitcoin have hit new highs, driving overall market sentiment up, increasing investor interest in established altcoins like XRP, leading to price increases.

Hope to drive more altcoins to soar!