XRP is Back, hits a Three-Year High of $1.7655

Over the past 24 hours, XRP surged by 19%, outperforming Bitcoin and other leading cryptocurrencies. XRP's all-time high was recorded in April 2018, exceeding $3.

This significant growth is attributed to several factors. First, Donald Trump's victory in the 2024 U.S. presidential election boosted investor confidence in assets linked to American companies. Second, rumors about the potential resignation of SEC Chairman Gary Gensler have raised hopes for more lenient cryptocurrency market regulations.

In December 2020, the SEC accused Ripple of selling unregistered securities worth $1.3 billion. In July 2023, a court ruled that programmatic sales of XRP were not investment contracts, though sales to institutional investors violated securities laws. By August 2024, Ripple was fined $125 million, a figure far lower than the SEC's initial demand of $2 billion. However, in October 2024, the SEC challenged the ruling.

Ripple CEO Brad Garlinghouse expressed optimism about a "reset" for the crypto industry following the U.S. presidential elections.