XRP Breaks 2024 Records: Outpaces Top 100 Cryptos as Gensler Resignation Rumors Swirl
The post XRP Breaks 2024 Records: Outpaces Top 100 Cryptos as Gensler Resignation Rumors Swirl appeared on BitcoinEthereumNews.com.
XRP price has jumped after rumors that Gary Gensler, the head of the U.S. Securities and Exchange Commission (SEC). Whether this recent surge is a temporary blip or the start of a sustained upward trend will depend largely on how the regulatory environment evolves. XRP, the seventh-biggest cryptocurrency by market capitalization, jumped to a fresh high of $0.847 on Thursday, gaining 15% in one day. For its part, the cryptocurrency has become the best performer among the top 100 tracked by the CNF Price Index. The token’s impressive rise stands out, especially when compared to others in the market. Apart from the XRP surge, Hedera jumped 23%, and Cardano climbed 8%, but XRP’s significant gain comes with its surprise exponential growth that has really captured attention: first, for the scandalous history of the token; second, because of some unresolved legal issues. Despite the recent uptick, XRP is still too far from its all-time high. The token is down 76.2% from its peak almost seven years back. A common question now being asked is whether this sudden jump indicates that XRP has entered a phase of long-term appreciation or if this is only temporary. Gensler’s Potential Resignation Stirs Crypto Community XRP price has jumped after rumors that Gary Gensler, the head of the U.S. Securities and Exchange Commission, might resign as early as this Friday. The Gensler resignation stirs the crypto community, given his hardline regulatory decisions against major crypto companies, such as Ripple and generally been under constant criticism from insiders within the industry. Stuart Alderoty, the Ripple’s team lead, has particularly criticized Gensler’s leadership. Alderoty remarked: His legacy of undermining American innovation, and failing to uphold the law is shameful. The criticism isn’t just coming from Ripple; up to 18 conservative states – including Texas and Florida – are…
Filed under: News - @ November 16, 2024 3:07 am