The post Gensler Exit, Trump’s Win, and ETF Buzz Fuel Hopes ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Ripple’s XRP continues to mesmerize the crypto market, reaching $2.48, its highest level since 2018. This rise, from an increase of roughly 399% in the period of a month, indicates that there is more and more speculation and confidence in the increase in demand for Ripple’s main token. This has led to a discussion on forums and social media of whether the altcoin is ready to reach for the stars and if a $10 XRP could soon become a reality. Trump’s Pro-Crypto Victory Sparks a Bullish Surge Twists from the external environment, including president-elect Donald Trump and his encouraging sentiments towards virtual currencies, have boosted the rally of XRP. The recent victory in the general election has brought hope among cryptocurrency investors, as most believe the new government will favor digital currencies. Trump’s victory sparked a 42% jump in the overall crypto market, propelling XRP to $2.48. Ripple CEO Brad Garlinghouse has been especially vocal about Trump and his administration, stating that Trump will “make crypto great again” and, by extension, the markets will do so as well. Advertisement   Robinhood Relists XRP, Igniting Retail Trading Frenzy Robinhood decided to reinstate cryptocurrency on its platform after it had been banned in early 2020 due to the SEC case against Ripple. The relisting sparked renewed interest in XRP particularly to the retail traders, thus the trading escalated. This is why trading volume on new applications such as Robinhood and Coinbase surged and caused the XRP price to rise. Many of these have opened their doors to XRP in recent days, helping foster consumer interest in the coin. Gensler’s Departure Opens Doors for Legal Clarity The pressure from the authorities is also easing up for XRP. That is good news for Ripple as well as for XRP, which has…