Ripple’s native cryptocurrency, XRP, became one of the top five cryptocurrencies by market cap for the first time amid bullish industry sentiment. At $97 billion, Ripple ( XRP ) leapfrogged Binance’s BNB Coin ( BNB ) and its $95 billion market cap during a crypto market uptick on Friday, Nov. 29. Ripple rose alongside the total digital asset market rallying to $3.5 trillion, its highest peak yet. General market optimism, Ripple’s business expansion, and regulatory tailwinds pushed XRP’s price closer to its all-time high. XRP gained 15.8% in 24 hours and 226% in the last 30 days, trading at $1.70 by publishing time. The token peaked at $3.40 in January 2018. 24-hour XRP price chart – Nov. 29 | Source: crypto.news You might also like: Crypto ETF issuer Bitwise rebrands XRP ETP with Ripple’s backing Ripple catalysts Bitwise, Canary Funds, Grayscale, and WisdomTree led the charge for a spot XRP exchange-traded fund amid personnel changes at the Securities and Exchange Commission. Former SEC commissioner and pro-crypto regulator Paul Atkins was a top candidate to replace outgoing crypto-skeptic chair Gary Gensler. After Donald Trump won the presidential election, Gensler announced his resignation effective Jan. 20. Furthermore, Ripple featured in a new crop of stablecoin market entrants. The digital payment firm issued its RLUSD on its XRP Ledger and Ethereum ( ETH ), the largest decentralized finance ecosystem by user deposits. Court triumphs over the SEC and forthcoming crypto-friendly U.S. legislation strengthened Ripple’s standing as a digital asset powerhouse. A Southern District Court of New York ruled against the SEC’s argument claiming XRP retail sales broke securities laws. The judge also approved a $250 million fine related to institutional XRP sales. However, the SEC may file an appeal, and incoming SEC top officials like Atkins could implement a different approach to agency regulation. A lot of unsolicited advice on here about who should (or shouldn’t) be the next SEC Chair. I trust the transition team to make the right call with these table stakes for crypto in mind: 1.End all non-fraud crypto litigation on Day 1. 2.Get commitments from Commissioners Uyeda and… — Stuart Alderoty (@s_alderoty) November 21, 2024 Read more: How high can Ripple’s XRP price get in December 2024?
