Ripple 'Surges' on Trump's Favorable Wind... Breaks $1 for the First Time in 3 Years

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At 11:51 pm on the 16th, XRP is trading at $1.18 based on CoinMarketCap./Source=CoinMarketCap


XRP is showing a fierce upward trend, recovering $1 for the first time in 3 years.

At 11:51 pm on the 16th, XRP recorded $1.180, up 31.60% from the previous day, according to CoinMarketCap. It has risen 116% over the past week. At the same time, XRP is trading at 1,648 won, up 28.15% from the previous day, based on Bithumb.



XRP is considered a representative Trump asset. According to Eleanor Terrett of Fox Business, Ripple CEO Brad Garlinghouse said, "The best-performing cryptocurrencies other than BTC after the US presidential election are all related to US companies, including XRP, Solana (SOL), and Cardano (ADA)." Garlinghouse added, "This is a natural phenomenon as the pressure on US cryptocurrency companies is expected to ease."

The US Securities and Exchange Commission (SEC) has previously classified XRP and SOL as unregistered securities, drawing backlash from the cryptocurrency industry. Former US President Donald Trump, who was elected, had promised a pro-cryptocurrency policy and vowed to fire SEC Chairman Gary Gensler on his first day in office.
Reporter Yeri Do
yeri.do@decenter.kr
< Copyright holder ⓒ Decenter, Unauthorized reproduction and redistribution prohibited >

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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