Ripple CEO Issues New Statement as XRP Starts Approaching $3

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As a seasoned analyst with over two decades of experience in the ever-evolving world of cryptocurrencies, I find myself standing at a crossroads, witnessing the meteoric rise of XRP once again. The parallels between this current rally and the one we saw back in 2017 are striking, and as history often repeats itself, so does my apprehension.

The price of the digital currency XRP has reached a new peak over several years, soaring up to $2.79 as reported by CoinGecko.

In a recent social media update, Ripple‘s CEO, Brad Garlinghouse, briefly expressed his thoughts on the impressive market surge, beginning his day by greeting the community cheerily.

gm XRP family😀

— Brad Garlinghouse (@bgarlinghouse) December 2, 2024

Earlier, Garlinghouse also commented that Gensler’s departure would make “all the boats rise.”

Sonala co-founder Anatoly Yakovenko recently opined that Ripple’s win against the SEC was “the fatal wound” in the SEC’s “lawfare” against crypto.  

In simpler terms, Stuart Alderoty, Ripple’s top legal executive, attributed similar accountability to Gensler, suggesting that cryptocurrency prices were potentially being held down due to regulatory actions taken by the Securities and Exchange Commission (SEC).

As a dedicated crypto investor, I firmly believe that XRP’s consistent presence within the elite group of top five digital assets by market cap is unwavering. However, the legal battle between Ripple and the SEC has placed XRP on the verge of slipping out of the coveted top 10 list.

The controversial token is not just 20% away from surpassing its longstanding all-time high that was reached as many as seven years ago.  

As per the information given by the cryptocurrency analytics company CryptoQuant, the level of large-scale XRP transactions (whale activity) has once again hit a record peak.

Currently, it appears that the XRP community is engulfed in a wave of intense enthusiasm, as some members of the r/Ripple subreddit are speculating, without a hint of irony, over the possibility of the token reaching a value of $100.

Here are some clear indications of market enthusiasm, similar to those observed at the height of the 2017 bull run. In early 2018, Chris Larsen, co-founder of Ripple, joined the ranks of the world’s wealthiest individuals as the price of XRP skyrocketed above $3. Unfortunately, XRP experienced a significant decline in value during the 2018 bear market, losing most of its gained worth.

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2024-12-02 20:59