Following Gary Gensler's announcement regarding his resignation, Ripple's XRP token rose sharply again. After a 24% increase, it is now trading at $1.4.
Ripple’s XRP gains 24%
Thursday evening, Gary Gensler made official his upcoming resignation from his post as chairman of the Securities and Exchange Commission (SEC). Directly after this announcement, Ripple's XRP token has started a new bullish surge and is now trading around 1.4 dollars:
XRP price in hourly data
💡 How to invest in Ripple’s XRP?
With an increase of around 24%, this is the strongest increase in the top 10 cryptocurrencies in the last 24 hours. Thus, the total capitalization of the asset amounts to $79.5 billion, in 6th position in the ranking, behind BNB and ahead of DOGE.
After regaining the symbolic threshold of 1 dollar last week, XRP has, for the moment, increased by almost 180% during the month of Novemberwhich had never been seen since April 2021. Despite this increase, the price of the asset is still trading 60% below its all-time high of more than $3.3, reached in January 2018.
In terms of liquidation on centralized exchange platforms, $28.39 million was liquidated on XRP in the last 24 hours, almost equally between long and short positions.
For his part on X, Brad Garlinghouse, CEO of Ripple, reacted to Gary Gensler's announcement by saying he was grateful for it:
This Thanksgiving, I'm grateful for… https://t.co/FHDPaRnRkU
— Brad Garlinghouse (@bgarlinghouse) November 21, 2024
👉 Also in the news — SOL crypto exceeds its historic ATH – Is the Solana blockchain the winner of the bull run?
With the changes to come, it will now be a question of seeing if the asset will be able to confirm its current good dynamics, after years of vegetating.
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Source: TradingView
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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