 before stabilizing at $2.30, reflecting a 21 per cent increase in 24 hours and a nearly 50 per cent jump compared to last week. XRP’s market capitalization has risen from $30 billion to $131 billion since Trump’s election, surpassing $100 billion for the first time since 2018. The token briefly overtook Solana’s SOL and even Tether’s USDT stablecoin before settling as the fourth-largest cryptocurrency globally. The surge comes amid speculation that the New York Department of Financial Services could soon greenlight Ripple’s RLUSD stablecoin. Reports suggest Ripple may launch RLUSD as early as December 4, further boosting market confidence. Fairshake is the most successful multi-candidate, bipartisan Super PAC in American history. Electing pro-crypto, pro-growth and pro-innovation candidates is a no-brainer, and to continue that momentum, Ripple is contributing another $25M to Fairshake. Onwards! — Brad Garlinghouse (@bgarlinghouse) November 26, 2024 Ripple Labs has been embroiled in a legal battle with the SEC since 2020 over allegations of unregistered securities sales. However, the company scored a significant victory in July 2023 when a federal judge ruled that XRP sales on public exchanges did not violate securities law. The SEC’s ongoing appeal of the ruling has fueled uncertainty, but Trump’s election and the impending resignation of SEC Chair Gary Gensler have spurred optimism. Former CFTC Chairman Chris Giancarlo, a contender for a key role in the Trump administration, has advocated dropping the Ripple case. Ripple CEO Brad Garlinghouse recently highlighted the growing momentum for regulatory clarity in an interview with 60 Minutes. He emphasized the industry’s efforts to support pro-innovation candidates through initiatives like the Fairshake PAC, reflecting broader anticipation of a crypto-friendly environment under the GOP-controlled Congress. XRP’s rise coincides with a broader cryptocurrency surge. Bitcoin remains the largest cryptocurrency with a market cap of $1.89 trillion, followed by Ethereum at $436 billion. The new administration’s pro-crypto stance, including Trump’s campaign pledge to make the U.S. the “crypto capital of the planet,” has set the stage for a transformative period in the digital asset industry. For More Interesting News Follow Us on Instagram){kind=link}
XRP, the token related to Ripple Labs, has surged to turn into the fourth-largest cryptocurrency by market capitalization, following a dramatic rally triggered by Donald Trump’s presidential election victory and hypothesis about favorable developments in Ripple’s authorized battle with the SEC.
The value of XRP reached a excessive of $2.50 early Monday (2) earlier than stabilizing at $2.30, reflecting a 21 per cent enhance in 24 hours and a virtually 50 per cent soar in comparison with final week.
XRP’s market capitalization has risen from $30 billion to $131 billion since Trump’s election, surpassing $100 billion for the primary time since 2018. The token briefly overtook Solana’s SOL and even Tether’s USDT stablecoin earlier than settling because the fourth-largest cryptocurrency globally.
The surge comes amid hypothesis that the New York Division of Monetary Companies might quickly greenlight Ripple’s RLUSD stablecoin. Reviews recommend Ripple could launch RLUSD as early as December 4, additional boosting market confidence.
Fairshake is probably the most profitable multi-candidate, bipartisan Tremendous PAC in American historical past.
Electing pro-crypto, pro-growth and pro-innovation candidates is a no brainer, and to proceed that momentum, Ripple is contributing one other $25M to Fairshake. Onwards!
— Brad Garlinghouse (@bgarlinghouse) November 26, 2024
Ripple Labs has been embroiled in a authorized battle with the SEC since 2020 over allegations of unregistered securities gross sales. Nonetheless, the corporate scored a major victory in July 2023 when a federal choose dominated that XRP gross sales on public exchanges didn’t violate securities legislation.
The SEC’s ongoing attraction of the ruling has fueled uncertainty, however Trump’s election and the approaching resignation of SEC Chair Gary Gensler have spurred optimism. Former CFTC Chairman Chris Giancarlo, a contender for a key function within the Trump administration, has advocated dropping the Ripple case.
Ripple CEO Brad Garlinghouse lately highlighted the rising momentum for regulatory readability in an interview with 60 Minutes. He emphasised the business’s efforts to assist pro-innovation candidates by initiatives just like the Fairshake PAC, reflecting broader anticipation of a crypto-friendly setting beneath the GOP-controlled Congress.
XRP’s rise coincides with a broader cryptocurrency surge. Bitcoin stays the biggest cryptocurrency with a market cap of $1.89 trillion, adopted by Ethereum at $436 billion. The brand new administration’s pro-crypto stance, together with Trump’s marketing campaign pledge to make the U.S. the “crypto capital of the planet,” has set the stage for a transformative interval within the digital asset business.
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