Public cryptocurrency market data, such as CoinMarketCap or CoinGecko

XRP Surges Over 150% to $1.24, Market Cap Hits $50 Billion Amid Regulatory Speculation

Nov 15, 2024, 10:18 PM

XRP has experienced a significant surge in its price, rising over 150% in the past week. The cryptocurrency hit an all-time high of $1.24, marking its highest level since 2021. This surge is attributed to several factors, including speculation around SEC Chair Gary Gensler's potential resignation and a multi-state lawsuit against the SEC involving 18 states. Additionally, XRP whales have accumulated over 45.61 billion tokens, the largest accumulation in four years, with trading volume up 87%. The market optimism is further fueled by the recent election win of Donald Trump, which is expected to bring pro-crypto policies. XRP's market cap has surpassed $50 billion, making it the sixth largest cryptocurrency by market cap, overtaking Dogecoin. XRP initially rose to $0.80, a 17% increase, before continuing its upward trajectory.