News plays an important role in the market, meaning when there is positive news flowing around, we can see a similar price impact. When the market is bullish, we often see a lot of positive news updates floating around, and this is what attracts more people. Even social media and other media channels have started talking about cryptocurrencies and Blockchain, which also creates more interest for people to be part of the market and invest in some popular projects.
Today in this post I am going to talk about the xrp coin which is not a new coin in the market earlier it was known as Ripple. I don't know when the rebranding happened but now it is known as xrp and its price has doubled in a month. Now you must be asking why because this is a very good growth in price and anybody holding the coin must be very happy. I can only figure out the good news coming from the Security and Exchange Commission in the US.
Gary Gensler will be fired from the Security and Exchange Commission after the new president Donald Trump. This project has been struggling because of the allegations and issues created by the Security and Exchange Commission. There have been partial victories in the past for the project but I don't know if there is much more in the past but in the present things are looking good.
It is highly expected that the xrp coin will not be considered security anymore so the investors are going to put in more money and this is why the price is expected to rise more. I have invested some amount in this coin during the last bull run cycle and I was expecting that it would go but because of the legal lawsuit, it did not happen. If I remember correctly then the coin price was not even $1 when the bull run was at its peak. This time it is getting better which is good and I hope things will be even better in the long run so just keep an eye on the coin price and how it goes.
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