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XRP’s Price Rallies as New SEC Head Takes Office, Traders Expect Further Gains
The recent surge in XRP’s price has left many traders and investors optimistic about the token’s future prospects. The rally comes in light of a new development at the Securities and Exchange Commission (SEC), which is expected to dramatically soften its stance on cryptocurrency.
As reported by U.Today, Paul Atkins, a pro-crypto libertarian, will replace Gary Gensler as the SEC head. This significant change has raised hopes that the agency will adopt a more friendly approach towards digital assets like XRP.
In recent days, XRP’s price has skyrocketed after a New York District Court ruling stated that secondary XRP sales were not securities. The ruling has sparked widespread optimism about the token’s future and opened up new avenues for investment and growth.
The news has seen XRP briefly surpass $2.8 before pulling back slightly to its current trading level of around $2.42. Despite this, many traders believe that there is still plenty of room for further growth in the coming weeks.
It’s worth noting that the token’s price rise comes at a time when other cryptocurrencies are experiencing significant corrections and volatility. The market’s sentiment remains cautious due to the recent collapse of FTX and the ongoing bearish trend across the sector.
However, this development may potentially have an impact on XRP’s growth prospects in the coming months.
Source: u.today
