XRP increased by approximately 10% in the last 24 hours and with this increase, it managed to attract the attention of cryptocurrency investors.

According to Crypto.news data, Ripple gained 9.49% in value in the last 24 hours and is currently trading at $1.17. The XRP token, which has shown a steady rise since the beginning of November, showed a remarkable performance by reaching $ 1.19 on November 17.

While the value of XRP increased by 101.94% in the last seven days, an increase of 114.33% was recorded in the last month. These increases show that XRP has entered a strong upward trend in the cryptocurrency market and investors’ confidence has increased.

The market cap of XRP currently stands at $66.5 billion, while the fully diluted value of the token is over $116 billion. The circulating supply of XRP is almost 100 billion dollars. This shows that XRP’s growth potential continues and it is gaining more interest among investors.

XRP currently ranks 6th in the cryptocurrency market and is strengthening its position. Bitcoin’s huge rise in the market may also have been effective behind XRP’s rapid rise.

Bitcoin reaching new all-time highs caused an overall rally in the cryptocurrency market, with many major cryptocurrencies gaining value due to Bitcoin’s boom. This rise of XRP also creates more optimistic expectations about the future of Ripple Labs and XRP.

A crypto analyst on the

As interest in XRP grows, many crypto investors share their optimistic views that the token will reach higher levels in the future.

Another important detail about this rally of XRP, previously reported by crypto.news, was that the token went through a “record-breaking rally” with a 30% increase on November 17.

Coincodex predicts that the price of XRP may range between $0.69 and $3.09, while the average price prediction is $1.66. On the other hand, DigitalCoinPrice suggested that XRP could reach a price level between $2.46 and $2.96, with the average price prediction at $2.80.

There may be several reasons for XRP’s recent strong rise. One of these is Bitcoin’s strong influence on the market.

However, recent rumors that SEC Chairman Gary Gensler will resign from his position stand out as another factor that positively affects XRP. These rumors created further optimism towards Ripple’s XRP and created a new wave of hope in the crypto market.

The legal fight between Ripple Labs and the SEC has been ongoing since December 2020. The SEC accuses Ripple of selling XRP as an unregistered security.

In July 2023, the court decided that some sales of XRP were not counted as securities transactions. However, the SEC appealed this decision, and in October 2024, Ripple Labs filed a cross-appeal against the SEC. This indicates that the case is not over yet and future developments may continue to affect the price of XRP.