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XRP hits $3 for the first time since 2018
In a remarkable turn of events, Ripple’s native cryptocurrency, XRP, has surged by 15% to reach a crucial price milestone of $3. This is the first time the asset has reached this mark since January 2018.
The sudden and unexpected surge in value comes just days before U.S. President-elect Donald Trump’s inauguration, sparking speculation that investors are anticipating changes in cryptocurrency regulation under his administration. The surge also coincides with the resignation of current SEC Chair Gary Gensler, who will be replaced by Paul Atkins during Trump’s term.
XRP had previously started the year at a price of $2.1, following a decline in the last quarter of 2024 that saw it plummet to $2. However, the asset began to show signs of recovery on Monday, with a slight dip to $2.33 as the broader market experienced significant downturns. Since then, XRP has recorded steady increases and reached its current price.
The surge is notable not only for its value but also for the number of transactions involving the cryptocurrency. According to data provided by Coinmarketcap, the asset’s market capitalization rose to a staggering $171.5 billion, making it the third largest digital asset in terms of market cap.
Some analysts have linked this sudden price increase to rumors that Trump intends to instruct his new SEC chair to drop lawsuits against certain cryptocurrencies. Ripple and Coinbase were among the companies affected by Gensler’s regulatory crackdown on digital assets. Given these recent developments, investors may be anticipating a shift in regulatory policy under the new administration, which could push XRP prices even higher.
While it remains unclear whether these rumors will come to fruition, one thing is certain: the cryptocurrency market has been known for its volatility and unpredictability. As such, any analysis of this sudden surge must take into account the ever-changing landscape of cryptocurrency regulation and investor sentiment.
In conclusion, this unexpected price increase serves as a stark reminder that the cryptocurrency market can be unpredictable and subject to rapid changes in value.
Source: www.cryptonewsz.com
