Ripple (XRP) has started the bull run: Will the rise continue?

Ripple (XRP) has increased by nearly 25 percent in the last 24 hours, reaching its highest level since November 2021.

XRP, which has excited its investors with its short-term rise, is currently trading at $ 1.13. #Ripple , which rose to a market value of $ 60 billion as of November 17, has delighted its investors. The popular altcoin, which has exploded after a long hiatus, continues to give bullish signals despite the volatility in the market.

#DonaldTrump , who won the US presidential election, had made statements that he would dismiss SEC Chairman Gary Gensler. Gensler, who later gave signals that he would resign, especially made XRP investors happy. Ripple, which has been in trouble with the SEC for a while, started to rise after this development.

Ripple's General Counsel Stuart Alderoty said in a statement on the social media platform X, “Please do not forget the SEC's general strategy. “To be honest, this is just noise in the background. The hard part is over,” he said.

The price increase has created a flurry of activity in onchain data. According to Whale Alert, a wallet transferred $90 million worth of XRP. Over $316 million worth of XRP was reported to have been transferred in the last two days alone.

Another positive signal was that 21Shares applied for a Ripple ETF, similar to spot Bitcoin and Ethereum ETFs. This application is for a cryptocurrency that can be traded on the US exchange. Canary Capital and Bitwise have also applied for $XRP ETFs.

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