XRP's price movement today is largely influenced by the ongoing developments surrounding the U.S. Securities and Exchange Commission (SEC) and the potential for XRP-focused exchange-traded funds (ETFs). The anticipation of a Republican-led SEC, following President-elect Trump's pro-crypto appointments, has sparked optimism for a favorable regulatory environment for XRP. This includes the possibility of the SEC withdrawing its appeal in the Ripple case, which could pave the way for XRP-spot ETFs. The market is closely watching the Senate Banking Committee's upcoming vote on SEC Commissioner Caroline Crenshaw, as her renomination could impact the regulatory landscape for XRP.
Despite the positive sentiment from these developments, XRP has faced some selling pressure as investors diversify into other cryptocurrencies like Dogecoin and Rollblock, which promise high returns. This shift in investor focus has contributed to a decline in XRP's price today. Additionally, Ripple CEO Brad Garlinghouse's upcoming appearance on CBS's "60 Minutes" is expected to highlight Ripple's efforts to secure regulatory clarity, which could further influence market sentiment.
XRP's price has decreased by 1.05% today, currently trading at $2.587735. The cryptocurrency reached a high of $2.615325 and a low of $2.493657 during the day.