CandleFocus Short Sellers Get REKT as XRP Shoots up 25% in 24 Hours
2024-11-23
Author: Content Editor
Ripple's XRP token experienced a 25% increase in value after news of SEC Chair Gensler's upcoming resignation, adding to its previous gains and monthly returns. The surge is part of a broader bullish momentum in the crypto market since the US elections, with Donald Trump now championing the industry. Altcoins like Solana and Ethereum are also seeing increases in value. XRP's open interest has reached an all-time high, indicating traders' anticipation of future price movements. While a short-term correction is possible, the long-term outlook for XRP remains positive. With Gensler's departure, Ripple may reach a settlement with the SEC, allowing more asset managers to bring XRP products to the stock market. The upcoming vacancy for SEC Chair has several likely candidates, including Hester Peirce and Mark Uyeda, both known for their support of the crypto industry.
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