Ripple's XRP surged an astonishing 40% in just 24 hours, hitting $2.80, marking its highest value in seven years and reflecting massive new investment exceeding $120 billion since the recent election.
The potential easing of legal pressures on Ripple has immensely contributed to the bullish sentiment around XRP, with expectations that the SEC may drop lawsuits following the resignation of its chair, Gary Gensler.
Anticipation of a forthcoming XRP exchange-traded fund and the imminent regulatory approval of Ripple's stablecoin, RLUSD, further ignites investor excitement, hinting at a promising future for Ripple products.
Despite experiencing stagnation in value throughout the year, XRP's recent breakout has propelled it to become the third-largest cryptocurrency, showcasing a significant shift in market dynamics.
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