↗️Why did the $XRP coin suddenly and dramatically rise?
Altcoin season! In just under a month, XRP has managed to erase the losses of the past three and a half years, with the price rising by more than 400% to levels not seen since 2018. This November, it wasn’t Bitcoin (BTC), Solana (SOL) or even the meme coin frenzy that took center stage, but Ripple (XRP) stood out in its own right, with a sharp and massive price surge that sent the market into a state of volatility.
Factors Contributing to the Price Increase of $XRP
1 - Progress in the US Securities and Exchange Commission (SEC) lawsuit
Ripple has appointed Uphold, Bitstamp, Bitso, Moonpay, Independent Reserve, Coinmina, and Polish as trading partners for its upcoming Ripple USD (RLUSD) stablecoin, with liquidity support from B2C2 and Keyrock. Additionally, MoonPay, a cryptocurrency payments company, has partnered with Ripple to allow users to buy, store, and manage XRP through their MoonPay accounts. In late November, Ripple also announced partnerships with Archax and UK-based asset manager ABRDN PLC, with plans to launch the first cryptocurrency market fund on the XRP ledger.
3 - Issuing a stablecoin
As a cryptocurrency payments company, Ripple plans to expand into the stablecoin market.In mid-November,