XRP's price movement today can be attributed to a combination of factors, including the ongoing legal battle with the SEC and the broader market sentiment. The recent announcement that Gary Gensler will step down as SEC Chair in January 2025 has sparked speculation about potential changes in the regulatory landscape, which could impact the Ripple case. Despite the uncertainty, legal experts suggest that the SEC's stance on crypto may not change significantly, even with a leadership transition. This ongoing legal saga continues to influence investor sentiment and XRP's market performance.
Additionally, the broader crypto market has been buoyed by positive developments, such as Donald Trump's pro-crypto stance and the appointment of David Sacks as the AI and Cryptocurrency Chief. These developments have contributed to a favorable environment for cryptocurrencies, including XRP. The anticipation of a more crypto-friendly regulatory environment under the new administration has fueled optimism among investors, further supporting XRP's price rally.
XRP has experienced a significant increase of 6.90% today, reaching a current price of $2.405337. The cryptocurrency hit its highest price today at $2.405337, with a low of $2.242275.