Ripple jumps 30% on positive regulatory news in the US
Last week was a strong week for XRP's price.
Last week was a strong week for XRP's price. The incoming US administration is likely to loosen crypto regulation. This could be especially good news for the Ripple Labs wrapped up in lawsuits. Although there have already been several rulings in Ripple's favor, there are still a number of lawsuits. Ripple has risen 71% in the last 7 days and 153% in the last month.
Gary Gensler Announces Departure
The chair of the SEC, who has filed multiple lawsuits against Ripple, announced on Twitter that he will step down in January:
Will there be a Ripple ETF?
Some traders also expect an XRP ETF in the US, given the upcoming looser regulation. Bitwise and Canary Capital have filed for a Ripple ETF, but a decision on approval is still pending. Investors expect the odds of approval to have increased after Trump’s election.
