Summary:
XRP reaches $2.16, a seven-year high!
Surpasses Solana to become the fourth-largest cryptocurrency!
Surge driven by regulatory optimism and political changes.
Ethereum hits a six-month high of $3,741.
Bitcoin remains stable around $97,200.
XRP has experienced an unprecedented surge over the weekend, jumping 15% in just one day to reach $2.16—a new seven-year high! This is the first time XRP has crossed the $2.00 threshold since January 2018, marking a significant milestone in its journey.
As of now, XRP's market cap stands at $134 billion, surpassing Solana, which sits at approximately $112 billion. This leap has positioned XRP as the fourth-most valuable digital asset in the market.
Regulatory Optimism Fuels XRP's Rise
The recent surge in XRP's price is largely attributed to renewed optimism regarding its regulatory future. The upcoming election of Donald Trump, who advocates for a pro-crypto platform, and the resignation of SEC Chairman Gary Gensler, have both contributed to a more favorable outlook for XRP. Investors are hopeful that these changes may lead to fewer regulatory challenges ahead, potentially paving the way for XRP's use in spot exchange-traded funds (ETFs) and other financial applications.
While XRP is still about 41% down from its all-time high of $3.40 set in January 2018, it is closer to that mark than it has been in nearly seven years.
Ethereum Also on the Rise
In tandem with XRP's rise, Ethereum (ETH) has reached a six-month peak of $3,741, representing an 11% increase for the week and a 48% increase over the last 30 days. However, it still remains about 24% off its all-time high of $4,878 from 2021. Meanwhile, Bitcoin has remained relatively stable, hovering around $97,200.
Stay tuned as the cryptocurrency market continues to evolve amidst these changes!
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