“XRP rose to $1.6833, renewing the high of the upward movement that began in November. The last quotes above current values were in April 2021, since then the asset has been trading lower. Binance XRPUSDT hourly chart. Source: TradingView. The growth over the last day was 14%. XRP has overtaken Bitcoin and other cryptocurrencies from the top 10. Source: CoinMarketCap. The maximum value of the coin was recorded in April 2018 above $3. XRP price chart for 11 years. […]”, — write: businessua.com.ua
XRP rose to $1.6833, renewing the high of the upward movement that began in November. The last quotes above the current values were in April 2021, since then the asset traded lower.
Binance XRPUSDT hourly chart. Source: TradingView.
The growth over the last day was 14%. XRP has overtaken Bitcoin and other cryptocurrencies from the top 10.
Source: CoinMarketCap.
The maximum value of the coin was recorded in April 2018 above $3.
XRP price chart for 11 years. Source: CoinMarketCap.
There is no clear reason for the current jump. The upward dynamics of the coin is accompanied by several long-term factors.
The rapid growth of XRP began in November against the background of Donald Trump’s victory in the US presidential election. Investors have regained confidence in assets related to American companies.
In mid-November, XRP quotes exceeded the psychological $1 mark for the first time since December 2021. The asset was sensitive to news of the potential departure of Gary Gensler as chairman of the US Securities and Exchange Commission (SEC) and increased hopes for a more liberal regulatory environment in America.
In December 2020, the SEC accused Ripple of selling unregistered XRP securities worth $1.3 billion. CEO Brad Garlinghouse and co-founder Chris Larsen also became defendants in the case.
In July 2023, the court ruled that software sales and other distributions of the Ripple coin do not constitute the offer and implementation of investment contracts. However, according to the decision, the sale of tokens to major players violated US securities laws.
The court rejected the SEC’s interlocutory appeal, finding that it lacked sufficient evidence and that its consideration would not “significantly advance the final termination of the case.”
Subsequently, the Commission withdrew the lawsuit against Garlinghouse and Larsen. The parties reached a settlement agreement, which prevented further accusations on the former grounds.
In August 2024, the court issued a final decision in the case, fining Ripple $125 million. The regulator initially demanded $2 billion. The SEC appealed the verdict in October.
It will be recalled that Garlinghouse expressed confidence in the “reboot” of the crypto industry after the US presidential election.
The source