XRP has recently experienced a remarkable surge, climbing above the $2 mark for the first time since early 2018, peaking at $2.49. This impressive growth of over 70% in just a few days has caught the attention of industry experts, including TechCrunch founder Michael Arrington, who described XRP as “a beast.” The cryptocurrency’s Market capitalization surged to nearly $140 billion, briefly reclaiming the third spot on CoinMarketCap before being overtaken by Tether. Additionally, significant accumulation by large investors has contributed to this price increase. The rally comes amid expectations of upcoming cryptocurrency regulations in the U.S., following SEC chairman Gary Gensler’s announcement of his resignation.
XRP Hits New Heights: TechCrunch Founder Calls It a ‘Beast’
In a remarkable turn of events, XRP, the Ripple-affiliated cryptocurrency, surged past the $2 mark on Sunday, prompting TechCrunch founder Michael Arrington to express his excitement on social media. In a tweet, Arrington simply stated, “XRP is a beast,” capturing the attention of crypto enthusiasts and investors alike.
Since the previous Thursday, XRP experienced an extraordinary price increase of 70.55%, climbing from $1.42 to peak at $2.42. Although the price faced a slight decline afterward, it managed to stabilize around $2.30. This surge not only elevated XRP to a Market cap of nearly $140 billion, briefly reclaiming its position among the top three cryptocurrencies but also highlighted a renewed interest from investors.
In an interesting development, large wallet holders—those with between one and ten million XRP—have been actively accumulating the cryptocurrency, purchasing close to 680 million coins valued at around $1.66 billion in recent weeks. This interest comes as XRP reached its highest price since January 2018.
Market analysts speculate that XRP’s rise is partly due to recent announcements regarding potential changes in U.S. cryptocurrency regulations. The upcoming resignation of SEC Chair Gary Gensler has sparked optimism that regulatory clarity could be on the horizon, encouraging more investment in the cryptocurrency space.
As XRP continues to make headlines, it’s essential for potential investors to conduct thorough research and remain aware of the Market dynamics before making any financial decisions.
Disclaimer: The views expressed in this news article do not reflect the opinions of U.Today and are intended for informational purposes only. Always seek advice from financial experts before making investment decisions.
Tags: XRP, cryptocurrency news, Michael Arrington, Ripple, crypto regulations, Market surge, SEC.
What does it mean when they say “XRP is a beast”?
When they say “XRP is a beast,” it means that XRP, the digital currency, is performing really well and gaining a lot of value quickly.
Why is XRP seeing such a big increase in value?
XRP’s increase in value could be due to various factors, like big investor interest, positive news about its technology, or changes in the overall crypto Market.
Who is the TechCrunch founder mentioned?
The TechCrunch founder is Michael Arrington, who is known for his views and insights in technology and cryptocurrencies.
Is XRP a good investment right now?
Whether XRP is a good investment depends on individual research and Market conditions. It’s always wise to do your own homework before investing.
What should I know before investing in cryptocurrencies like XRP?
Before investing in cryptocurrencies, it’s important to understand the risks, do thorough research, and only invest what you can afford to lose.
