XRP, the third-largest cryptocurrency by market cap, has surged more than 13% in the past 24 hours, bringing its current price to around $2.76 per token. This significant increase comes on the heels of a notable event: Ripple Labs Inc.’s CEO Brad Garlinghouse appeared before the U.S. Senate Committee on Banking, Housing, and Urban Affairs.
Garlinghouse’s presence at the hearing suggests that Ripple may have growing ties with policymakers in Washington. If this is the case, it could boost XRP’s appeal. However, it’s essential to note that a direct link between Ripple and the US government has yet to be confirmed.
In the past five days, XRP has jumped 20%, while over the past 12 months, it has surged an astonishing 507%. This remarkable return far surpasses its peers, with Bitcoin up around 105% in the same period and Ethereum down about 3%.
The increased interest in XRP may be linked to growing investor confidence following Garlinghouse’s appearance. Nevertheless, the future of XRP remains uncertain, and further market movements will be closely watched by investors and analysts alike.
Source: https://www.fastcompany.com/91366701/xrp-price-rises-today-news-bitcoin-record-high-heres-why