XRP token surpasses $1.41, reaching its highest level since May 2021
Ripple prepares to celebrate victory
On November 22, Ripple's XRP token surged past $1.41, marking its highest price since May 2021.
According to TradingView data, XRP rose by over 12% in the last 24 hours and has increased by 163% over the past month. This comes after trading around $0.50 for nearly two years.
XRP price dynamics over the past 24 hours, Source: TradingView
As reported by The Block, the latest price surge is likely driven by U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler’s announcement that he will step down on January 20, 2025.
Additionally, firms like 21Shares, Canary Capital, and Bitwise have recently filed applications to launch XRP-focused exchange-traded funds (ETFs).
Ripple prepares to celebrate victory
The legal battle between the SEC and Ripple over allegations of selling unregistered securities has been ongoing since 2020 and remains one of the most high-profile cases in the crypto industry.
Meanwhile, in his November 21 statement, Gary Gensler announced not only his resignation as SEC chairman, effective on the day of Donald Trump’s inauguration, but also his departure from the commission entirely, which would prevent him from advocating for his policies through the end of his term in 2026.
Ripple CEO Brad Garlinghouse attributed the recent 70% surge in XRP’s value to growing optimism surrounding regulatory clarity in the U.S.
