Leak Reveals December’s Crypto Bombshell As Bitcoin And Ripple’s XRP Price Suddenly Increases

On By Littum

11/30 update below. This post was originally published on November 29

Bitcoin and cryptocurrencies, including Ripple’s XRP, have suddenly surged higher, with the bitcoin price now back within touching distance of $100,000 after suddenly plunging back this week.

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The bitcoin price has skyrocketed this year, pushed forward by the election of Donald Trump as US president – ​​fueling a massive $15 trillion bitcoin price bet.

Now, as Elon Musk quietly confirms that the bitcoin and crypto market has changed, bitcoin bulls are increasing their price predictions for 2025 after Donald Trump’s election triggered a legislative “green light.”

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“U.S. institutional investors will deepen their exposure to crypto assets and the rest of the world will play catch-up,” Ed Hindi, chief investment officer at Switzerland-based crypto hedge fund Tyr Capital, said in emailed comments — setting his bitcoin price prediction for 2025 to $250,000.

“Trump’s victory is a massive regulatory green light that will expand both participation and position sizes in bitcoin, ethereum and blue chip decentralized finance (DeFi) altcoins.”

Trump, who has leaned on bitcoin and crypto this year, vowing to create a strategic bitcoin reserve and loosen regulations that crypto companies have complained are stifling the technology, is mulling whether to replace the outgoing chairman of the US Securities and Exchange Commission (SEC) Gary Gensler with a pro-crypto regulator.

Ripple’s XRP is up 13% this week as traders bet Trump’s election to the SEC chair will spell an end to Ripple’s long legal battles, with the XRP price up nearly 200% since the US election in early ​November.

11/30 Update: Ripple’s XRP is back up after a leak reported by Fox Business revealed that a top crypto regulator in New York is poised to greenlight a new stablecoin issued by XRP developer Ripple.

The price of Ripple’s XRP has risen another 20% over the past 24 hours, adding to massive gains of around 200% since October and catapulting XRP up the crypto market rankings, making it the fifth largest cryptocurrency with a market cap of $108 billion. Bitcoin, by comparison, has a market cap of just under $2 trillion.

Ripple’s XRP had languished throughout the last bitcoin price and crypto market bull run, failing to make major gains as a result of a protracted legal battle with the US Securities and Exchange Commission (SEC).

This was reported by anonymous sources Fox Business that the New York Department of Financial Services is close to approving the so-called RLUSD dollar-pegged stablecoin and Ripple is aiming for a December 4 launch date.

If approved, Ripple will be allowed to offer RLUSD to the public, making it a US law-compliant alternative to Tether’s $130 billion USDT stablecoin, which currently dominates the stablecoin market.

The runaway success of Tether’s USDT, which makes the British Virgin Islands-based company billions of dollars each quarter, has sparked a digital gold rush as rivals try to grab a slice of the market, with internet payments giant PayPal among businesses rushing their own stablecoins the market.

“The price of bitcoin recovered from $91,000 on Wednesday as pro-financial technology former SEC Commissioner Paul Atkins has been seen as the new SEC chair under the second Trump administration,” said Yuya Hasegawa, bitcoin and crypto market analyst at Tokyo-based Bitbank. in emailed comments, adding the US Thanksgiving holiday could be a catalyst for the bitcoin price to rise above the closely watched $100,000 per bitcoin level.

“In the crypto market, there is also a market anomaly around Thanksgiving. During a bull market, bitcoin tends to suffer losses around Thanksgiving, but the price starts to rise again after a week or two. This ‘Thanksgiving anomaly’ was observed during the bull run of 2016 and 2020, the years when bitcoin halved. Bitcoin underwent its fourth halving in April, so many market participants may believe that a dip around Thanksgiving could be a huge possibility.”

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However, Hindi and other bitcoin and crypto market watchers expect the recent volatility to continue into the next few weeks after the bitcoin price and other smaller cryptocurrencies, including Ripple’s XRP, surged higher through November.

“We expect both the bull run and volatility in bitcoin to continue for the rest of the year,” Hindi said.

“A range of $75,000/$120,000 would not be surprising. Corrections are likely to be swift as dip buying and profit taking are in full force fueled by incredible levels of fomo (fear of missing out). Trump Trade has lifted bitcoin and stocks to record highs We believe the early Santa rally is over-extended and forecast year-end profits.”