On December 2, it skyrocketed like a rocket, rising nearly 30% in a single day!
There are rumors in the market that billionaire Musk plans to invest $104 billion in XRP, but this news has not been confirmed yet, and the official side has not come out to verify it.
The price of XRP has soared to $2.4578, directly surpassing SOL, and now ranks third on the market capitalization leaderboard, with a market cap of about $130.1 billion.
The news that Musk wants to invest in XRP first emerged on the Binance forum, then exploded on platforms like Reddit and Twitter, but up to now, Musk himself has not confirmed this matter.
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 all focused on the new SEC chairman chosen by Trump, thinking that if this person is friendly to cryptocurrencies, Ripple's long-dragging lawsuit might have a good outcome.
I heard that the institution in New York that regulates cryptocurrencies most strictly is about to issue a pass for Ripple to launch its new stablecoin RLUSD.
Ripple's core competence is the decentralized global payment network RippleNet, which provides cross-border payment solutions for banks and enterprises using blockchain technology, known for being fast, cheap, and efficient, and is referred to as an alternative to SWIFT.
XRP was originally used to settle these transactions, but now in the US, 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 Tether, the issuer of the world's largest stablecoin USDT, they are raking in profits, bringing in tens of billions of dollars in revenue each quarter.
Now other companies are envious, all starting to grab market share, and internet payment giants like PayPal are also pushing their own stablecoins.
According to Tokyo Bitbank's BTC and Yuya Hasegawa, everyone thinks the Trump administration will choose a pro-fintech SEC chairman, so the BTC price rebounded from $91,000 on Wednesday. It was also said that the US Thanksgiving holiday might be a catalyst for Bitcoin to rise to $100,000.
It's always a bit strange in the crypto circle around Thanksgiving. During bull markets, BTC often dips around Thanksgiving, but then starts to rise again one or two weeks later.
This Thanksgiving curse has appeared during the bull markets of 2016 and 2020, which coincidentally were 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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