XRP's price movement today has been influenced by a mix of regulatory developments and market sentiment. The potential shift in the SEC's leadership, with Commissioner Caroline Crenshaw's renomination facing hurdles, has sparked speculation about a more favorable regulatory environment for cryptocurrencies, including XRP. This comes as the SEC's appeal against Ripple's previous legal victory looms, with the outcome potentially impacting XRP's future. "If Crenshaw’s renomination fails, Trump could nominate a new Commissioner," noted Fox Business journalist Eleanor Terrett, highlighting the potential for a pro-crypto shift in the SEC's stance.
Despite the optimism surrounding regulatory changes, XRP has faced downward pressure today. The market's reaction to the ongoing legal uncertainties and the broader crypto market's volatility has contributed to XRP's decline. Additionally, the recent surge in XRP's price, driven by President-elect Trump's pro-crypto promises, has led to profit-taking among investors, further weighing on the price. As a result, XRP has struggled to maintain its recent gains, with the price experiencing fluctuations throughout the day.
Currently, XRP is trading at $2.358465, marking a 2.64% decrease today. The cryptocurrency reached a high of $2.518780 earlier but has since retreated to its lowest point of the day.