tl;dr
Ripple's XRP has surpassed BNB to become the fifth-largest cryptocurrency by market capitalization, reaching $99 billion, its highest in over three years. XRP has shown strong bullish momentum with a surge of over 230% in November. Despite historically underperforming in bull markets, XRP's long-ter...
XRP has surpassed BNB to become the fifth-largest cryptocurrency by market capitalization, reaching $99 billion, its highest in over three years. XRP has shown strong bullish momentum with a surge of over 230% in November. Despite historically underperforming in bull markets, XRP's long-term holders are now hopeful due to the potential regulatory clarity under Donald Trump's administration.
The resignation of SEC chair Gary Gensler has generated optimism, reflected in actions by major institutional investors, such as WisdomTree filing for an XRP ETF. This increased institutional interest could drive market demand for XRP. Trump's administration is expected to provide a favorable regulatory environment, potentially including a capital gains tax cut for US-based cryptocurrencies, including XRP.
Ripple's CEO, Brad Garlinghouse, has been actively involved in supporting Trump's campaign and has made significant donations, indicating a potential pro-XRP regulatory landscape in the US. XRP's market cap has reached $99 billion, its highest in over three years, as the altcoin has surged by more than 230% in November. Despite a history of underperformance, long-term holders of XRP are hopeful due to potential regulatory clarity under Donald Trump's administration, with institutional interest in the token growing.
The resignation of SEC chair Gary Gensler has sparked optimism, reflected in recent actions by major institutional investors, including WisdomTree filing for an XRP ETF. Approval of an XRP ETF would attract more institutional funds to the altcoin and potentially drive its market demand, similar to the impact seen with Bitcoin ETFs. With the potential for a pro-XRP regulatory landscape in the US, driven by increased institutional interest, XRP's market demand may continue to rise.