XRP's price surge today can be attributed to the anticipation surrounding President Donald Trump's potential pro-crypto policies, including the creation of a national digital asset reserve. This initiative, reported by The New York Post, suggests prioritizing U.S.-developed cryptocurrencies like XRP, which has sparked excitement in the market. The proposal has been met with both support and criticism, but it undeniably positions XRP as a key player in the U.S. crypto landscape. Frank Chaparro, an early Bitcoin investor, praised the move, calling it a transformative step for the crypto industry.
Additionally, the recent departure of SEC Chair Gary Gensler and the appointment of Mark Uyeda as acting chair have created a more favorable regulatory environment for cryptocurrencies. Uyeda, known for his supportive stance on digital assets, could potentially ease the regulatory pressures that have previously weighed on XRP. This shift in leadership at the SEC, coupled with Trump's crypto-friendly administration, has bolstered investor confidence in XRP's future prospects.
XRP has experienced a 4.25% increase today, with its price reaching $3.083740. The cryptocurrency hit a high of $3.343310 earlier in the day, nearing its 52-week high of $3.388071.