The XRP surge halts as SEC Chairman Paul Atkins advocates for an end to arbitrary enforcement.

Ripple soared to $234 yesterday following news of a significant development in the U.S.-China trade conflict. Though the surge subsided to approximately $2.55, it provided a notable increase in confidence among crypto investors. According to Crypto News Flash, there was an unexpected shift as the U.S. and China reached an agreement to reduce the harsh tariffs that characterized Donald Trump’s trade strategy. According to the new deal, U.S. tariffs will decrease significantly from a harsh 145% to only 30%, whereas China will reduce its counter tariffs from 125% to 10%. Such a de-escalation is rare and had an immediate impact on global markets, particularly the cryptocurrency market. Ripple (XRP) was one of the standout performers, experiencing a significant increase in its value. XRP, currently the fourth-largest cryptocurrency with a market capitalization of $48 billion, saw a significant rise following the trade agreement and other positive news. After hovering around $503 last week, XRP increased by 21.58% in the last week, reaching a peak of $2.65 before decreasing slightly to $2.55. Analysts had anticipated a more vigorous rally, forecasting an increase to $3, yet XRP’s actual performance was still surprising. In addition, Ethereum (ETH) exceeded $2,300, and Bitcoin (BTC) neared its record of $109,000. Blockchain analyst Ali Martinez analyzed the technical aspects, stating, “On-chain data indicates that XRP faces no significant resistance areas ahead, with a crucial support level to monitor at $2.38.” According to CoinGlass, the unexpected surge resulted in more than $35 million in liquidations, highlighting that the cryptocurrency market is still quite volatile. SEC: Paul Atkins’ Transition. The surge in XRP’s value is not solely driven by market trends; it coincides with significant regulatory shifts. Following extensive legal disputes with the U.S. Securities and Exchange Commission (SEC), Ripple has reportedly come to a settlement, according to Crypto News Flash.