🤔 Have you ever thought that an unverified 'rumor' could cause such a drastic shake-up in the entire crypto market, with XRP surging nearly 30% in a single day? That's right, this is the market frenzy sparked by billionaire Musk!
On December 2, news that Musk is preparing to invest $104 billion in XRP quickly spread in the investment community. Although this news has not been officially confirmed, it has already caused XRP's market value to soar, surpassing Solana's SOL token and ranking 4th in the cryptocurrency market value list!
💥 This information comes from the forum of Binance, the world's largest cryptocurrency exchange, and quickly spread on platforms like Reddit and Twitter. Although Musk himself has not confirmed the news, the market has gone wild!
💡 In-depth analysis shows that XRP's surge is not just due to Musk's 'rumors', but also because Ripple is expected to gain approval from New York to enter the regulated US cryptocurrency market. At the same time, 'Trump trading' continues to boost the crypto market, as Trump supports Bitcoin and cryptocurrencies, pledging to establish a Bitcoin strategic reserve and relax regulations on cryptocurrency companies.
🌐 Ripple's core business revolves around its decentralized global payment network, RippleNet, which uses blockchain technology to provide faster, cheaper, and more efficient cross-border payment solutions for banks and enterprises. XRP, as the native token of this network, serves as a bridge currency for settling these transactions. However, due to the SEC's ongoing argument in court that it is an unregistered security, the token remains in a state of regulatory uncertainty in the US. But with the Trump administration coming to power, this situation may change.
💰 Moreover, the success of Tether, the largest issuer of the USDT stablecoin, has sparked a digital gold rush, with competitors scrambling to capture market share. Companies like internet payment giant PayPal are also pushing their own stablecoins to market.
📈 For Bitcoin, the Thanksgiving holiday may act as a catalyst for price increases. Analysts have indicated that the pro-fintech former SEC commissioner Paul Atkins is viewed as the new SEC chairman for Trump's second term, which has already led to a rebound in Bitcoin prices. Additionally, there are market anomalies around Thanksgiving in the cryptocurrency market. During bull markets, Bitcoin often suffers losses around Thanksgiving, but the price typically begins to rise again within a week or two.
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The above content is for informational sharing only and does not constitute any investment advice! Investment carries risks, and market entry requires caution!
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