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ADA has soared past $0.65, XRP is close to $0.9.

Ripple's (CRYPTO: XRP) rally is increasingly gaining momentum amid whale accumulation and increased optimism from traders. What Happened: XRP surged 22% on Friday, bringing its seven-day gains to 57%.

The cryptocurrency industry is bracing for a potential surge in exchange-traded funds (ETFs) after Donald Trump's election win, signaling what experts believe could be a transformative era for digital assets in the U.S. What Happened: Market participants are hopeful that a pro-crypto Trump administration will end regulatory gridlock and usher in broader approval for innovative crypto-based financial products, according to a Financial Times report. The Securities and Exchange Commission's (SEC) recent approval of spot Bitcoin and Ethereum ETFs marked a significant milestone after years of regulatory pushback.

What is the Ripple Effect? And what is the Ripple Effect on XRP?

After an extended period of consolidation below the $0.60 mark, XRP is signaling a potential breakout, with the token now eyeing the elusive $1 milestone.

XRP, one of the most talked-about cryptocurrencies, has faced a period of lackluster price action, frustrating many investors. Despite trading significantly below its all-time high (ATH), some experts believe that XRP could be on the verge of a dramatic rally that will see it surpass its previous record within weeks.

In the last 24 hours, XRP trading volume has increased by 81%, as the cryptocurrency market faced a sell-off that resulted in nearly $504 million in futures liquidations.

Story Highlights Ripple price reclaims the $0.80 mark for the first time since 14th July 2023. Gary Gensler's resignation sparks price to soar over 30% within hours. Bullish action could push the XRP price toward $1 soon. The XRP price has outperformed the top cryptocurrencies with a meteoric rise in its valuation.

XRP has been experiencing a significant increase in on-chain activity, which has resulted in a recent surge in its popularity. Analysts and investors have expressed interest in the XRP Ledger, Ripple's digital payment platform, due to its increased transaction throughput.

Ripple CEO Brad Garlinghouse has taken to X to comment on Bitwise's recent ETF filing that includes exposure to the XRP token. "XRP, BTC, ETH, SOL — that's the alphabet soup I like to see," Garlinghouse said in his social media post.

XRP the 7th largest cryptocurrency has experienced a whooping surge of around 15% over the last 24 hours, beating the broader crypto market trend. While Bitcoin and Ethereum saw losses of 1.4% and 3.8%, respectively, XRP briefly crossed the $0.80 mark.

The 230-day post-halving period typically signals a drop in Bitcoin dominance, fueling altcoin momentum.

Ripple chief executive officer Brad Garlinghouse has published a tweet in which he made a prediction about the future role of the US for the cryptocurrency industry.

Their holdings have surged to their highest levels since June 2018.

TL;DR XRP surged 15%, reaching $0.84, amid speculation of SEC Chair Gary Gensler's potential resignation and ongoing SEC lawsuits. The price increase is driven by market sentiment and significant whale accumulation, with wallets holding at least 1 million XRP reaching their highest balance in 65 months. Gensler's hinted departure and lawsuits from 18 U.S.

Recently, the cryptocurrency market has been facing challenges, as Bitcoin price decreased by 5% to around $87,000 from its earlier peak of $93,000. This decline has been experienced universally, with altcoins in particular experiencing even more significant drops of up to 20%.

XRP's price action has been the subject of much attention lately, as the cryptocurrency shows signs of a potential trend reversal. The key indicator that has drawn focus is the formation of a “spinning top” candlestick, a pattern often linked with indecision in the market.

This week, we examine Ripple, Cardano, Dogecoin, Shiba Inu, and Sui in greater detail. Ripple (XRP) XRP is quickly approaching $1 and has impressed with a 47% price increase in the past seven days.

XRP has showcased a major boom in the past 24 hours as its price outranked the majority of its peers across the board. At the time of writing, the coin's price has retained a 12.13% uptick to $0.7971.

Check out XRP's next potential targets after hitting a 16-month high.

XRP has been on a pretty impressive run lately, jumping over 40% in the past week and hitting a four-month high of $0.847 on Thursday.

Yesterday, Ripple's (XRP) price soared to the highest level since July 2023 following rumors that US Securities and Exchange Commission (SEC) Chair Gary Gensler could soon resign. This development ensured that the altcoin was the highest gainer out of the top 10 cryptos.

XRP surged over 16% in 24 hours, fueled by regulatory optimism following Donald Trump's election, sparking expectations of a rally to $1. XRP was trading at $0.

XRP skyrockets 17% in just 24 hours, outpacing Bitcoin (BTC) and other major cryptocurrencies.