XRP saw a 10.2% increase this week due to fresh Optimism generated by developments in the Ripple vs. SEC legal battle. The appointment of Paul Atkins as the new SEC Chair could bring a shift toward a more favorable regulatory environment for cryptocurrencies, potentially impacting XRP prices and the broader market.
The current XRP trading price is 2.35 USD. Investors are watching resistance at 2.50 USD and support at 2.31 USD. A favorable resolution in Ripple’s case could enhance retail and institutional investor confidence, likely boosting XRP’s price and other cryptocurrencies facing regulatory challenges.
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