XRP Price Surges 25% as Headwinds for Ripple Clear Even More
XRP prices surged 25% following Gary Gensler's announcement of stepping down as SEC chairman, amid expectations of a crypto-friendly regulatory shift. Ripple Labs, associated with XRP, cleared a major court case in 2024, boosting XRP's market presence with a $77 billion capitalization. The token rose 65% in the past week and 150% in the past month, with analysts targeting a short-term price of $1.40. Donald Trump's 2024 election victory is seen positively by the crypto community, anticipating supportive policies. There is speculation about an XRP ETF in the U.S. Trading volumes for XRP and dogecoin surpassed bitcoin on South Korean exchanges, indicating high demand. XRP futures positions exceed $2 billion, reflecting market volatility expectations.
