Ripple (XRP) has gained nearly 25% in the past 24 hours, reaching its highest level since November 2021.
It excites investors with its short-term growth. XRPCurrently trading at $1.13. As of November 17, the market value reached $60 billion. the wavemade his investors happy. A popular altcoin bursting after a long period gives a bullish signal despite market volatility.
Ripple (XRP) bullish signals continue.
Donald Trump, who won the US presidential election, made a statement that he will fire Gary Gensler, the chairman of the SEC. Gensler, who later hinted that he would resign, particularly pleased XRP investors. Ripple, which has been in trouble with the SEC for some time, started to rise after this development.
Ripple’s general counsel Stuart Alderoty said in a statement on social media platform X: “Please remember the SEC’s overall strategy. Honestly, it’s just background noise. The hard part of the struggle is our is behind
The price increase created activity in onchain data. According to Whale Alert, one wallet transferred $90 million worth of XRP. It has been reported that $316 million worth of XRP has been transferred in the last two days alone.
Another positive sign is that 21Shares has filed for a Ripple ETF, similar to spot Bitcoin and Ethereum ETFs. This application is designed for a cryptocurrency that can be traded on a US stock exchange. Canary Capital and Bitwise also applied for XRP ETFs.
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.
