Renowned investor and Gold Bullion International co-founder Dan Tapiero has commended XRP’s impressive 400% growth in market capitalization over the past month. Taking on X, Tapiero emphasized that the surge, which added $100 billion to XRP’s value, was no coincidence.
He noted that many investors have historically misunderstood or underestimated the cryptocurrency, which recently reclaimed its position among the top three cryptocurrencies on CoinMarketCap, reaching a price of $2.4 for the first time since 2018.
Tapiero attributes this remarkable rally to Ripple’s recent legal triumphs against the U.S. Securities and Exchange Commission (SEC). In July, federal judge Analisa Torres held that the sale of XRP to retail investors on exchanges was not selling of securities. This decision greatly enhanced Ripple’s chances of avoiding the $2 billion fine lawsuit pushed by the SEC to $125 million by September. These victories have helped to strengthen investors’ expectations and become a driving force behind the spectacular growth of XRP.
Also Read: Raoul Pal Admits Misjudgment as XRP Surges Past $2, Reclaiming Top-3 Cryptocurrency Spot
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Ripple’s Momentum Strengthened by SEC Chairman’s Resignation Announcement
XRP’s momentum received an additional boost following the announcement that SEC Chairman Gary Gensler would step down in January 2025. The news and the anticipated passing of a cohesive cryptocurrency law in the USA next year have also boosted demand for XRP. Tapiero highlighted this development in his tweet, expressing support for Ripple and its CEO Brad Garlinghouse by stating, “@bgarlinghouse @Ripple vindicated.”
Ripple’s recent legal and market successes underscore the cryptocurrency’s resilience and potential. The company has demonstrated that it can handle regulation risks and make XRP a dominant role player in the emerging crypto markets. Investors and industrialists like Tapiero watch Ripple’s movement as the cryptocurrency market waits for proper regulation.
Conclusion
XRP’s surge underscores its resurgence as a top-tier cryptocurrency, driven by Ripple’s legal victories and increasing regulatory clarity. Dan Tapiero’s acknowledgment highlights the growing recognition of XRP’s value and the broader implications for the cryptocurrency market.
Also Read: XRP Surges by 28%, Reclaims Third Spot Among Cryptocurrencies
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.