Persistence is paying off big time for the so-called XRP Army.
The asset has nearly tripled in price since Election Day, blasting off to a three-year high this week at a price of $1.61 on Friday. Granted, nearly ever major cryptocurrency is hot right now, particularly with Bitcoin topping $99,000, but XRP got an extra leg up in the last couple days after Gary Gensler revealed his exit plan.
Gensler, the Chair of the Securities and Exchange Commission (SEC), has been the chief antagonist to the XRP faithful over the last few years as Ripple Labs—the firm that built its payments service around the asset—has fought SEC charges. Now with Gensler set to leave when the pro-crypto Donald Trump returns to the White House on January 20, 2025, XRP investors are breathing a sigh of relief.
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