CandleFocus

XRP Flips Tether Becoming World’s Third Largest Crypto as Prices Soar

Author: Content Editor
The cryptocurrency XRP has seen significant gains in recent weeks, with a 71% increase over the past week and a 367% increase over the past month. This increase in value has coincided with optimism among investors due to the departure of Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), who had been leading a lawsuit against Ripple Labs, the company behind XRP. Gensler's departure has raised hopes for a more favorable regulatory approach to the crypto industry. While Ripple uses the XRP token, the token operates independently on its own ledger. Investors are speculating that the SEC's case against Ripple may come to an end with new regulatory leadership, potentially leading to increased adoption of XRP for financial applications. XRP is still lower than its all-time high in 2018 but is now closer to that level than it has been in nearly seven years. Other cryptocurrencies, including Cardano, Shibu Inu, and Stellar, have also seen price increases in the past 24 hours.

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