XRP rises 26% and Ripple is finally worth 1 euro again – BLOX | News

The XRP army has finally reached the value of 1 euro. The last time the price of Ripple was as high as it is today was just two years ago. What’s up with this old man?

XRP breaks down three years

XRP finally managed to break through a down price line that had lasted for three years. Analysts, including the popular Milkybull Crypto, see this as an important development. According to them, this shows that there could be a big increase in price in the near future. It looks like a ‘big rally’, as they say, is underway.

Another factor that contributes to the increase in XRP the extraordinary purchasing power of large investors, also known as ‘whales’. These whales – investors who have at least 1 million XRP – have increased their position significantly in recent years.

Out data from Santimenta platform that analyzes crypto markets, shows that these major players currently own 45.61 billion XRP. This is the most amount they have held since June 2018.

Whales continue to buy XRP

Over the past two years, whales have expanded their XRP holdings by 3.44 billion tokens, an increase of over 8%. This level of accumulation, in which more and more XRP is being bought by major players, coincides with the recent price increase.

For traders, this price increase of XRP has delivered as much as 40% return within a week. It seems that the whales are confident in XRP’s future and may expect further price increases.

Confusion about the SEC and Chairman Gary Gensler

Another interesting development in the crypto market is the possible change of the US Securities and Exchange Commission (SEC), which is responsible for overseeing financial markets, including crypto .

SEC Chairman Gary Gensler recently hinted at a possible step back. In a speech, he said it was “a great honor to serve and ensure that our capital markets remain the best in the world.” a possible departure for Gensler, who has been at the helm of the SEC since 2021.

It is important to remember that Gensler and the SEC have been intensively investigating the crypto market in recent years, with 5 to 7% of enforcement cases targeting crypto-related companies. A change in leadership could mean a change in the SEC’s approach to crypto companies, including Ripple.

A meeting between Ripple and Trump

One rumor that is attracting a lot of attention within the crypto world is an alleged meeting between Ripple CEO Brad Garlinghouse and former President Donald Trump.

will be speculation that Garlinghouse confirmed this in a recent interview, although we don’t have much information about where and when this meeting took place.

It is not clear what exactly was discussed, but the crypto community is discussing a lot about possible topics, such as the future of Ripple, regulations about crypto, or even possible support to exist from political quarters.