$XRP $XRP

Ripple’s XRP soars over 40% as regulatory headwinds let up 

XRP has surged 40% in the last 24 hours boosted by positive regulatory news.

DOMINIKA ZARZYCKA—SOPA IMAGES/LIGHTROCKET/GETTY IMAGES

Ripple’s XRP has become the third-largest cryptocurrency by market cap, overtaking popular tokens like Solana, USDT, and Binance Coin, as a new era of crypto-friendly policy begins to take shape in Washington, D.C.

On Monday, XRP had climbed an eye-popping 40% in 24 hours, reaching $2.80 for the first time in seven years. The coin has attracted over $120 billion in new investment, and reached a market cap of $156 billion since Donald Trump and a host of other crypto-friendly candidates won election on Nov. 5.

The surge in XRP’s price comes amid signs that the legal pressure that has been bearing down on Ripple for years is about to let up. Most notably, Securities and Exchange Commission chair Gary Gensler—who has been the crypto industry’s prime antagonist—announced his resignation, and pundits are predicting the agency is likely to drop a number of lawsuits as Trump prepares to take office. 

Credit : fortune.Com