Cryptocurrency News: As the price of XRP increased by more than five times in the last 30 days, it reached its highest point since January 2018 at $2.74 on Monday.
Following Donald Trump’s election victory last month, along with Bitcoin, the Ripple-related cryptocurrency started to rise, but it really took off after Gary Gensler, the chair of the Securities and Exchange Commission (SEC), announced that he would step down on January 20, 2025.
Gensler has been at the forefront of the agency’s investigation into cryptocurrency companies that are allegedly selling unregistered securities, such as Ripple Labs, whose founders developed XRP.
With Gensler leaving, supporters of XRP think that regulatory clarity is on the horizon, which will make it easier to identify XRP exchange-traded funds (ETFs) and other possible financial products.
According to CoinGecko data, XRP is currently up 92% on the week and 45% over the last 24 hours at $2.74, extending its 30-day jump to 436%. XRP first reached a seven-year high on Saturday and is still doing so today.
Information with Decrypt
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