Here is the reason why the price of XRP skyrocketed and 3 reasons why it could fall soon

The price of Ripple became parabolic in November, becoming one of the best-performing cryptocurrencies.

Ripple (XRP) surged to a high of $2.50, rising more than 400% from its monthly low. This rally pushed its market capitalization beyond $130 billion, allowing it to surpass popular coins like Solana (SOL), BNB, and Dogecoin (DOGE).

The main catalyst for the XRP surge was Donald Trump's electoral victory, which is expected to pave the way for more favorable cryptocurrency regulations. This development is significant as Ripple Labs has been embroiled in a legal battle with the Securities and Exchange Commission since 2020.

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