XRP surged 17% in the last 24 hours, outperforming Bitcoin and other major cryptocurrencies amid a cooling market. This rise coincided with a favourable shift in the U.S. regulatory landscape, as 18 states filed a lawsuit against the SEC, alleging unconstitutional overreach. Trading above 82 cents, XRP extended its 7-day gains to 50%, marking levels not seen since June 2023. In contrast, Bitcoin declined from $93,000 to $88,000, resulting in $120 million in liquidations. The market currently anticipates a 66% chance of a 25 basis point rate cut in the December FOMC meeting, down from 83% earlier. Other cryptocurrencies like Ether and Solana saw declines of about 3.5%, while speculative optimism remains about a potential crypto-friendly government under Trump, which could favour U.S.-based tokens like XRP. Despite the recent drops, analysts maintain a bullish outlook on Bitcoin, with potential price targets of $100,000 to $120,000 anticipated based on recent rallies and market dynamics.

Source 🔗