Republican

Dogecoin

April

XRP has surged to its highest levels since April 2021, with bullish momentum driving the token toward the $2 mark, signaling a strong comeback for the once-struggling cryptocurrency. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
 <img decoding="async" width="860" height="398" src="https://www.cryptotimes.io/wp-content/uploads/2024/11/XRP-price-1-860x398.png" alt="XRP price Chart" class="wp-image-218876" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/11/XRP-price-1-860x398.png 860w, https://www.cryptotimes.io/wp-content/uploads/2024/11/XRP-price-1-615x285.png 615w, https://www.cryptotimes.io/wp-content/uploads/2024/11/XRP-price-1-420x195.png 420w, https://www.cryptotimes.io/wp-content/uploads/2024/11/XRP-price-1-768x356.png 768w, https://www.cryptotimes.io/wp-content/uploads/2024/11/XRP-price-1.png 1451w" sizes="(max-width: 860px) 100vw, 860px">
 <figcaption class="wp-element-caption">
 XRP Nears $1.70, Source: <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" data-type="link" data-id="https://coinmarketcap.com/currencies/xrp/" rel="noreferrer noopener nofollow">CoinMarketCap</a>
 </figcaption>
 </figure>
</div> 
The token has gained 14% in the past 24 hours, outpacing Bitcoin and other major cryptocurrencies. This extends a month-long rally in which XRP has risen by 200%, making it one of the best-performing major tokens alongside Dogecoin (DOGE). 
Prices approached $1.70 during the European morning, with trading volume soaring 30% to $10 billion, largely driven by activity on South Korea’s UpBit exchange. 
The rise began in early November, following Republican gains in US elections, which boosted investor confidence in tokens associated with US-based companies, including Ripple Labs, XRP’s key backer. 
Mid-November brought news that U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler will step down in January. This development has fueled hopes for a more crypto-friendly regulatory environment, boosting XRP’s appeal among traders and investors. 
Open interest in XRP-denominated futures positions has hit record highs, with over 2 billion tokens (valued at over $2 billion) actively traded. This reflects heightened expectations of market volatility and continued price gains. 
Traders are anticipating the approval of an XRP exchange-traded fund (ETF) in the U.S., especially with regulatory conditions potentially easing. The launch of a money-market fund on the XRP Ledger has further strengthened institutional interest, as the ledger uses XRP for transaction fees. 
Ripple recently announced its intent to invest in the rebranded Bitwise Physical XRP ETP, previously known as the ETC Group Physical XRP. This news caused a 10% price spike, underlining Ripple’s ongoing commitment to XRP’s ecosystem. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/11/28/xrp-lawsuit-us-judge-approves-ripples-judgment-request/" target="_blank" rel="noreferrer noopener">XRP Lawsuit: US Judge Approves Ripple’s Judgment Request</a> 
</blockquote>

XRP Surges 14%, Nears $1.70 as Bulls Eye $2 Mark

The Crypto Times

Other articles published on Nov 29, 2024

Crypto Shake-Up: SUI Leads With $213M Unlock Amid Recovery Hopes

RENDER Price Breaks Multiple Resistance Levels; Expert Predicts It Could Move Like Raydium (RAY)

Injective Growth Remains Unstoppable, Despite INJ Price Pullback

XT Exchange Suspends Withdrawals After $1.7M Hack

Binance Labs New Investment: What is Kernel?

Large-Scale Ethereum Transfers to Kraken by Jeffrey Wilcke

Join our free newsletter for daily crypto updates!