TL;DR:
Most cryptocurrencies are experiencing gains today, except for Ripple’s native token. This is particularly confusing, given the recent appointment of a new SEC chair with a positive history with the crypto industry. Ripple has been involved in a lawsuit with the SEC for four years, but recent developments, such as the change in SEC leadership, have led to XRP’s price surging.
However, XRP has now dropped by 12% and lost its position as the third-largest cryptocurrency. The timing is confusing, as the recent rally in XRP may have been a ‘buy-the-rumor, sell-the-news’ event.
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