XRP broke out to hit $1.2567, marking a 156.5% increase from earlier this month.
Large wallets accumulated 453.3M XRP, while retail traders sold off 75.7M tokens.
Market speculation links the surge to potential SEC leadership changes under Donald Trump.
Last week, XRP shocked the crypto market by breaking past the $1 mark for the first time in three years. On November 16, the token hit $1.2679, a remarkable 64% jump from the previous day’s low of $0.7726. Earlier in November, XRP traded at just $0.4930, marking an impressive 158% rise.
This unexpected rally caught many off guard, especially after years of underperformance, with XRP struggling to regain market momentum.
Ripple’s Regulatory Wins and Trump’s Pro-Crypto Presidency
Ripple CEO Brad Garlinghouse attributed XRP’s price rally to easing regulatory challenges across the cryptocurrency industry. This shift is closely tied to Donald Trump’s recent presidential election win.
Notably, with Trump set to take office in January 2025, significant changes in regulatory leadership, including the replacement of SEC Chairman Gary Gensler, could occur.
Although the Ripple vs. SEC case recently ente…
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