According to CNBC, XRP has been the biggest winner of the recent crypto rally led by Donald Trump. Since the US election, XRP's price has soared by 370%, reaching close to $3 earlier in December. On the other hand, Bitcoin has only seen a 46% increase during the same period, and the broader crypto market has experienced gains of 93%. XRP's rally is attributed to speculation that Trump's victory could resolve the Ripple lawsuit and eliminate regulatory uncertainty around the cryptocurrency. Additionally, XRP's rally was supported by a federal judge's ruling that XRP is not a security and increased interest from institutional investors. Several asset managers, including Bitwise and Grayscale Investments, are seeking to launch XRP ETFs, with speculation that at least one application will be approved by the US SEC. However, XRP recently experienced a dip in price but quickly recovered after Ripple CEO Brad Garlinghouse announced the approval of RLUSD stablecoin by the NYDFS. XRP is currently trading at $2.41, with most of its trading volume occurring on Binance and Upbit.



Other News from Today