Should You Invest $1,000 in XRP Today?
Aside from Bitcoin, few cryptocurrencies have benefited more than XRP (CRYPTO: XRP) from President Donald Trump's election win back in November. Now the fourth-largest cryptocurrency in the world by market value, XRP has blasted more than 330% higher (as of June 5). Trump's win ushered in a new regulatory regime for cryptocurrencies, one less focused on caution and more focused on growth. The win also removed several regulatory headwinds for XRP. After experiencing such a strong run built on several strong catalysts, should you still invest $1,000 in XRP today?The big catalyst for XRP was getting the U.S. Securities and Exchange Commission (SEC) off its back. In 2020, the SEC sued Ripple, the company behind XRP, as well as Ripple co-founder Chris Larsen and Ripple's current Chief Executive Officer Brad Garlinghouse, for selling XRP as an unregistered security back in 2013. Investors viewed the case as a big deal because it could have set a precedent for the SEC's regulatory jurisdiction over many cryptocurrencies.Image source: Getty Images.Continue reading
Aside from Bitcoin, few cryptocurrencies have benefited more than XRP (CRYPTO: XRP) from President Donald Trump's election win back in November. Now the fourth-largest cryptocurrency in the world by market value, XRP has blasted more than 330% higher (as of June 5). Trump's win ushered in a new regulatory regime for cryptocurrencies, one less focused on caution and more focused on growth. The win also removed several regulatory headwinds for XRP. After experiencing such a strong run built on several strong catalysts, should you still invest $1,000 in XRP today?
The big catalyst for XRP was getting the U.S. Securities and Exchange Commission (SEC) off its back. In 2020, the SEC sued Ripple, the company behind XRP, as well as Ripple co-founder Chris Larsen and Ripple's current Chief Executive Officer Brad Garlinghouse, for selling XRP as an unregistered security back in 2013. Investors viewed the case as a big deal because it could have set a precedent for the SEC's regulatory jurisdiction over many cryptocurrencies.
Image source: Getty Images.
