Ripple’s XRP cryptocurrency has seen a significant increase in price, reaching around $0.80. This comes amid speculation about SEC Chair Gary Gensler’s potential resignation, which could lead to a more favorable regulatory environment for cryptocurrencies. On November 14, 18 states filed a lawsuit against the SEC, accusing it of unconstitutional overreach in regulating the cryptocurrency industry.
Ripple will also launch a USD-backed stablecoin on its ledger, which is expected to drive adoption and liquidity within the XRP Ledger community. Analysts predict that XRP could see a substantial price rally due to these factors, potentially reaching $1 or more as investor sentiment shifts positively.
