In summary
- XRP hit $2.74, marking its highest level since 2018, driven by expectations of regulatory clarity following Gensler’s departure.
- Following a 436% surge in 30 days, XRP outperformed cryptocurrencies like Bitcoin and Dogecoin in the recent bull market.
- Supporters hope the regulatory change will make it easier to approve ETFs and other XRP-related offerings.
XRP continued its ascent this Monday, jumping to a price of $2.74—the highest level seen since January 2018, rising more than five times in the last 30 days.
The Ripple-linked Cryptocurrency started rising after Donald Trump’s election victory last month, but really took off after Securities and Exchange Commission (SEC) Chairman Gary Gensler announced that he is resigning on December 20. January 2025.
Gensler has led the agency’s attack on cryptocurrency firms offering allegedly unregistered securities, including Ripple Labs, whose founders created XRP. With Gensler’s departure, XRP supporters believe regulatory clarity is coming, and will open the door to XRP exchange-traded funds (ETFs) and other potential financial offerings.
At a current price of $2.74, XRP continues to set a new seven-year price high after doing so for the first time on Saturday.
While all major cryptocurrencies have seen price gains in recent weeks, XRP now vastly outperforms heavyweight coins such as Bitcoin (BTC) and Dogecoin (DOGE). Bitcoin is up 40% in the last 30 days to a current price of $97,180, while Dogecoin is up 176% over the period to a current price of $0.43.
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