🔥 The Bull Run Has Begun in Ripple (XRP): Will the Surge Continue? 🚀🚀
Ripple $XRP
has surged by nearly 25% in the last 24 hours, hitting its highest level since November 2021. Currently trading at $1.13, XRP has excited investors with this rapid rise, bringing its market cap to $60 billion as of November 17. After a long period of consolidation, the popular altcoin continues its bullish momentum despite market volatility.
What’s Driving XRP’s Rise?
The recent surge in Ripple’s price follows a series of positive developments. Notably, former U.S. President Donald Trump, after winning the election, indicated that he would remove SEC Chairman Gary Gensler. Gensler’s potential resignation has been seen as a victory for XRP investors, especially since Ripple has faced ongoing legal challenges from the SEC.
Ripple’s General Counsel, Stuart Alderoty, weighed in on the situation, saying on X (formerly Twitter), "Don’t forget the SEC's general strategies. To be honest, this is just background noise. The hard part of the fight is over."
On-Chain Data Shows Strong Activity
The price surge has sparked significant movement in on-chain data. According to Whale Alert, a transfer of $90 million worth of XRP was recorded, with over $316 million worth of XRP moved in just the last two days.
More Positive News: XRP ETFs
Another bullish signal is the growing interest in XRP ETFs. Similar to 21Shares' spot Bitcoin and Ethereum ETFs, applications have been made for XRP ETFs, with Canary Capital and Bitwise among those involved in the process. This could open doors for XRP to be traded on the U.S. stock exchanges, further boosting its potential.