On December 2nd, it shot up nearly 30% in a single day, like riding a rocket!
The market is buzzing with rumors that billionaire Musk plans to invest $104 billion in XRP, but this news has not been confirmed yet; the officials haven't come out to verify it.
XRP's price soared to $2.4578, directly surpassing SOL, now ranking third in market capitalization, with a market cap of approximately $130.1 billion.
The news that Musk wants to invest in XRP first surfaced on Binance's forum, and then it exploded on platforms like Reddit and Twitter, but so far, Musk himself has not confirmed this.
On the other hand, the Trump effect is still boosting the market. Trump said he wants to build a BTC strategic reserve and loosen regulations for cryptocurrency companies.
Traders are focused on the new chairman of the SEC appointed by Trump, thinking that if this person is friendly to cryptocurrencies, Ripple's long-dragging lawsuit might have a good outcome.
I've heard that the strictest cryptocurrency regulatory body in New York is about to issue a pass for Ripple's new stablecoin RLUSD.
Ripple's specialty is that decentralized global payment network RippleNet, which uses blockchain technology to provide banks and businesses with cross-border payment solutions. Fast, cheap, and efficient, it's being called an alternative to SWIFT.
XRP was originally used to settle these transactions, but now in the U.S., it has become a bit problematic because the SEC says it is an unregistered security.
This case is still in the second trial. If the Trump administration comes to power in January 2025, this case might turn around.
Speaking of the world's largest USD stablecoin issuer Tether, they are making a fortune, bringing in tens of billions of dollars each quarter.
Now other companies are envious and are starting to grab market share, with internet payment giants like PayPal also launching their own stablecoins.
Tokyo's Bitbank and Yuya Hasegawa mentioned that because everyone thinks the Trump administration will select a pro-fintech SEC chairman, the BTC price bounced back from $91,000 on Wednesday. They also said that the US Thanksgiving holiday could be a catalyst for Bitcoin to rise to $100,000.
It always feels a bit strange in the crypto world around Thanksgiving. During bull markets, BTC often dips around Thanksgiving but starts rising again after a week or two.
This Thanksgiving curse has appeared during the bull markets of 2016 and 2020, which just happened to be the years of BTC halving. BTC halved again in April this year, so many people believe that the decline before and after Thanksgiving might be a great opportunity.
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