Crypto
Ripple CEO Brad Garlinghouse has revealed the driving forces behind XRP’s stunning 70% rally, which recently saw its price reach a two-year high of $0.9193. This rally has reignited hope for U.S.-based crypto innovation in the face of ongoing regulatory battles. According to Garlinghouse, the surge is the result of a perfect storm: pro-crypto policies from the new administration, Robinhood’s decision to relist XRP, and a significant softening of regulatory pressures in the U.S.
But there’s more to this story than just numbers. With 18 state attorneys stepping into lawsuits challenging the SEC’s approach to crypto regulation, and major institutional investors backing the token, XRP’s journey is just beginning.
Are we headed for the crucial $1 mark?
New Hope for Crypto As Trump Takes the Win
In a FOX Business interview, Garlinghouse referred to President-elect Donald Trump as a “crypto president,” praising his support for blockchain innovation and entrepreneurship. He described the post-election environment as a turning point for the cryptocurrency industry, emphasizing Trump’s genuine embrace of crypto.
“The crypto industry has embraced Trump, and Trump has embraced the crypto industry. I think it’s very genuine,”
This optimism isn’t limited to XRP. Garlinghouse noted that other U.S.-linked cryptocurrencies, such as Solana (SOL) and Cardano (ADA), have also gained momentum since Election Day. Reduced regulatory pressure is helping these tokens grow in a more supportive environment.
Always great to catch up with you, @LizClaman!
Markets have responded to Trump’s win — he’s bringing crypto back to America (making crypto great again?! MCGA!) The incoming Congress will make sure US innovation gets the regulatory clarity it deserves.https://t.co/NwKxRKVUqr
— Brad Garlinghouse (@bgarlinghouse) November 15, 2024
XRP Price is on a Roll!
XRP’s price rally has been driven by a technical breakout from a symmetrical triangle pattern, signaling strong bullish momentum. Key developments, like Robinhood relisting XRP, have further boosted market enthusiasm. The token is now approaching a critical resistance level at $1.00, with analysts suggesting a possible rise to $1.50 if this level is crossed.
Institutional interest has played a major role in the rally, with XRP’s trading volume climbing 25% in 24 hours to $11.7 billion. Whale activity has also increased, including a significant 60 million XRP transaction valued at $52.8 million.
No Signs of Slowing Down!
Currently trading at $0.89, XRP has gained 14% in the last 24 hours. Its market cap stands at $50.8 billion, while trading volume has surged to $11.65 billion. Analysts are optimistic about XRP breaking through the $1.00 barrier, which could trigger even more growth.
XRP is on a roll and with all factors working in its favor, there is a high chance of an XRP breakout a
