XRP has surged 25% in the past 24 hours, fueled by growing confidence in a regulatory shift favoring the crypto industry. This rally follows SEC Chair Gary Gensler’s announced resignation, amplifying optimism for more balanced oversight under the incoming administration.
Ripple Labs’ earlier court victory clearing XRP of being classified as a security has played a pivotal role in reinvigorating investor interest, pushing the token’s market cap to $77 billion. Over the past month, XRP has skyrocketed 150%, with analysts eyeing a potential price target of $1.40 in the near term.
The broader crypto market sentiment has also been buoyed by Donald Trump’s pro-crypto presidency, with many expecting favorable policies and a possible green light for an XRP exchange-traded fund (ETF) in the U.S.
South Korean exchanges have reported record-breaking XRP trading volumes, even eclipsing bitcoin, highlighting heightened demand. Meanwhile, XRP futures markets have seen open interest soar beyond $2 billion, reflecting strong bets on further price action and market volatility.
