XRP Price Surges Amid Speculation on Regulations and Market Dynamics

NEW YORK, NY — As of 3:48 p.m. ET Wednesday, the price of XRP rose by 6.3% in 24 hours, reaching $3.16. This increase came amid various market events that may have influenced investor behavior.

One contributing factor was a report by media outlets citing an anonymous White House official suggesting that President Donald Trump could fire Federal Reserve Chair Jerome Powell, a claim Trump later denied. Analysts believe that if such a move were permissible, it could undermine investor confidence in the U.S. economy, prompting a shift toward alternative currencies like XRP.

In legislative news, the House of Representatives voted to re-examine several crypto bills that could create regulatory frameworks for stablecoins and digital assets. Advocates in the industry view these bills as crucial for reducing uncertainty surrounding cryptocurrency regulations.

California Governor Gavin Newsom also announced the California Breakthrough Project, which aims to enhance governmental efficiency through collaboration with major tech figures, including Chris Larsen, the executive chairman of Ripple, the organization behind XRP.

Ripple’s technology allows XRP to serve as a bridge currency, facilitating cross-border payments. The company’s influence could enhance XRP’s adoption in traditional finance, specifically among institutional investors.

Despite the positive trends, experts advise caution as XRP remains a volatile investment. The token is poised within a critical price barrier between $2.40 and $2.50, and its ability to understand and navigate regulatory changes will significantly impact its future.