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Ripple’s
continues its surge towards the $3 mark. Today it stands at $2.17.
But its price movement continues! Is it fueled by investor optimism surrounding the potential for a more crypto-friendly US Congress?
In other news, Ripple has joined Pledge 1%, a global movement of companies pledging 1% of profits to advancing blockchain innovation, improving access to financial services, scaling carbon markets, and employee-driven local impact.
Let’s Talk About Regulatory Optimism!
Ripple’s XRP, one of the leading cryptocurrencies by market capitalization. It has experienced a notable increase in its value, nearing the $3 threshold.
This surge is particularly significant given the broader context of regulatory challenges and market volatility that have characterized the crypto industry in recent years.
Investors are increasingly hopeful that the newly elected US Congress will adopt a more favorable stance towards cryptocurrencies.
Moreover, the overall sentiment in the cryptocurrency market has improved. Investors are showing renewed interest in digital assets as viable investment options. This positive sentiment is reflected in the rising prices of various cryptocurrencies, including XRP.
We have defeated the SEC and now it’s time for a Massive Celebration!
As a token of appreciation for the community’s support during this challenging time, Ripple Labs launched a GiveAway of 100.000.000 $XRP
Learn more: https://t.co/1oL9ToIC4m pic.twitter.com/mNN7G3YiIj
— Ripple Event (@RippleXEvent_) December 3, 2024
Is Ripple’s RLUSD Stablecoin Close To Getting NYDFS Approval?
Ripple Labs’ RLUSD stablecoin is reportedly on the brink of receiving approval from the New York Department of Financial Services (NYDFS).
Interestingly, this approval could come as soon as next week, ahead of its anticipated launch on 4 December 2024!
According to a Fox News report dated 29 November 2024, the potential green light from NYDFS could mark a pivotal moment for Ripple.
The news of potential NYDFS approval has already had a notable impact on XRP, Ripple’s associated digital asset.
In fact, XRP experienced a substantial price surge. It climbed from $1.45 on 28 November 2024 to $1.88, marking an impressive 30% increase. Does the price movement show investor confidence in Ripple’s strategic direction and regulatory progress?
Related : Is Ripple’s RLUSD Stablecoin Close To Getting NYDFS Approval? Rumours Float Amidst XRP Surge
Ripple’s Ongoing Legal Challenges
In recent years, Ripple has faced legal challenges, most notably from the US Securities and Exchange Commission (SEC), and its Chair Gary Gensler.
The company was accused of conducting an unregistered securities offering through its sale of XRP.
However, recent court rulings have been more favorable to Ripple, contributing to increased investor confidence.
The anticipation of a more crypto-friendly Congress adds another layer of optimism.
Related : Ripple CEO Celebrates SEC Win, Calls It Start of ‘Crypto Voter’ Movement – 99Bitcoins
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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