XRP, the token issued by the company Ripple Labs, closes November with a notable rebound, recording its largest monthly increase since 2013. That was because in the last 30 days, the asset rose 280%, to become the second most significant increase in its history, since 11 years ago it registered an increase of 531%.
At the time of writing this note, XRP is trading at $1.90, with an increase of more than 10% in the last 24 hours, when the crypto asset promises to overcome the key resistance of the 2 dollarsas previously reported by CriptoNoticias. Additionally, XRP reached a market capitalization exceeding $100 billions, which places it in the fifth most valuable currency on the market, only behind Bitcoin (BTC), ether (The Cryptocurrency of the Ethereum network), USDT (Tether) and Solana (SOL).
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In November, the price of XRP went from $0.5 to $1.90. Source: CoinMarKetCap.
The price of XRP has been climbing in the last 3 weekswhen it managed to break the resistance level of $0.6, just after Donald Trump won the US presidential election. Since then, the Ripple token has continued its upward trajectory, placing itself on the same upward path that it experienced between December 2017 and January 2018, when it marked its all-time price high of $3.
This whole XRP rally has injected enthusiasm, so much so that its recent trading volume has grown 130%, reaching over $16 billion, reflecting strong buying interest in the market.
All this bullish sentiment about XRP is driven by a combination of facts that is injecting optimism. Additional to Trump’s victory is the Gary Gensler resignsChairman of the United States Securities and Exchange Commission (SEC). These aspects increase the chances that end the legal battle that the agency has maintained in the last 4 years with the company Rippleas reported by CriptoNoticias.
The possible approval of an XRP ETF and the launch of a new cryptocurrency from Rippleare aspects that fuel the positivism that currently surrounds the company that, in the short term, may be positioning itself as an important competitor in the regulated digital asset market in the United States.
With all these variables in play, the market is closely watching the future of XRPwhich seems to be heading towards a much more explosive end to the year, and towards an electrifying 2025.
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