XRP has reached its highest level since May 2021, hitting $1.67 amidst increasing speculation about the approval of an XRP exchange traded fund (ETF) and potential changes at the U.S. Securities and Exchange Commission (SEC). Currently priced at $1.66, XRP has surged by 13.8% within the day and 12.8% over the past week. Key developments include WisdomTree's registration of an XRP ETF in Delaware, marking the initial step toward approval. Additionally, Ripple announced plans to invest in a European XRP ETP. In light of the recent clarity in the U.S. regulatory landscape for crypto, Ripple's CEO, Brad Garlinghouse, expressed optimism about growing demand for crypto-backed investment products. Historically entangled in legal disputes with the SEC, XRP's status has recently seen improvement following a ruling suggesting it is not definitively a security. The market is buoyed by the news of SEC Chair Gary Gensler's departure, leading to an increase in XRP's valuation beyond $1.49 multiple times following this update, although it still remains below its all-time high of $3.40 from January 2018.

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