XRP Surges After Trump Election, Ranks Among Top Cryptocurrencies

Ripple Labs’ XRP Token has been making big waves in the cryptocurrency world post-election, landing itself among the top cryptocurrencies globally. In fact, XRP has surpassed Solana’s SOL and is now the fourth largest cryptocurrency, following Tether’s USDT, Ether token, and the ever-popular Bitcoin. According to Forbes, Ripple’s market cap has skyrocketed from around $30 billion to an impressive $131 billion as of Monday.

But what’s behind XRP’s surge in value and the ongoing rise in price predictions? Well, it seems that XRP is on the upswing thanks to some positive developments. The New York Department of Financial Services is reportedly considering approving Ripple’s RLUSD stablecoin, with plans for a potential launch as early as December 4, as per a report from Fox Business. This news comes after a rocky period for the company, which faced legal action from the Securities and Exchange Commission in 2020 for allegedly selling XRP tokens without proper registration as a security. However, last July, a federal judge ruled in favor of Ripple, stating that the company did not violate securities laws.

With the anticipation of Donald Trump’s return to the presidency and SEC Chair Gary Gensler’s impending departure, Ripple seems to be on a winning streak. Chris Giancarlo, the former Commodity Futures Trading Commission (CFTC) Chairman, who is rumored to be in the running for the role of “Crypto Czar” in the Trump administration, has even suggested that the SEC drop its case against Ripple entirely. Ripple CEO Brad Garlinghouse has also hinted at upcoming news, revealing that CBS News’ 60 Minutes show recently interviewed him about the future of crypto and regulatory advocacy efforts within the industry.

All in all, it seems like XRP is poised for continued success, with a combination of regulatory developments, market momentum, and positive news propelling the cryptocurrency to new heights. Stay tuned for more updates on XRP’s journey in the ever-evolving world of cryptocurrencies!