“XRP is a beast,” says TechCrunch founder in response to XRP’s massive surge
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“XRP is a beast,” says TechCrunch founder in response to XRP’s massive surge

Posted on by Amelia Pressman

“XRP is a beast,” says TechCrunch founder in response to XRP’s massive surge

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Michael Arrington posted a tweet to comment on XRP’s tremendous growth as it managed to break the $2 price level on Sunday.

The TechCrunch founder sent a short message to his X followers: “XRP is a beast.”

XRP rises above $2 and regains its spot in the top three market caps

From Thursday last week to today, Ripple-linked cryptocurrency XRP has stunned the crypto market and the XRP community with an unprecedented 70.55% price increase from $1.42. On Sunday, XRP finally managed to break the $2 mark and reached $2.42 today. After a subsequent decline of around 10%, XRP recovered slightly and changed hands at $2.30 per coin.

XRP has also managed to reclaim the third spot on the popular CoinMarketCap website, with the coin’s market capitalization rocketing to nearly $140 billion. However, XRP has now been pushed back one position by Tether’s USDT stablecoin.

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XRP community praised by Raoul Pal: “You were right, I was wrong”

Whales capture $1.66 billion worth of XRP

Meanwhile, major wallets holding between one and ten million XRP have purchased nearly 680 million XRP coins, worth $1.66 billion at the time the tweet was published. Additionally, non-empty XRP wallets acquired approximately 5.5 million XRP for the first time in XRP history.

As U.Today reported, Ripple also conducted a massive regular XRP release on December 1, withdrawing one billion coins from escrow and then traditionally locking back 800 million.

The stunning XRP price surge came shortly after current Securities and Exchange Commission chief Gary Gensler announced his resignation in January next year. Experts believe that the price increase was also fueled by expectations that the US presidential administration plans to introduce proper cryptocurrency regulation next year, which would allow crypto companies to finally operate fearlessly in the US without SEC scrutiny Brings bid allegations to court /Trading in unregistered securities.

This was the case with the SEC and Ripple in December 2020, when the regulator initiated the long-running case against Ripple and its top executives – Brad Garlinghouse and Chris Larsen.

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