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Why XRP Skyrocketed This Week

TheMotleyFool

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XRP (CRYPTO: XRP) is on the rise this week, up 25.3% from last Thursday at 1 p.m. ET as of 12:43 p.m. ET on Friday. The rise comes as the S&P 500 (SNPINDEX: ^GSPC) gained 0.5% and Bitcoin reached an all-time high.

Aside from Bitcoin's record-setting high, which always moves the rest of the market, Ripple Labs CEO Brad Garlinghouse appeared before Congress this week, boosting hopes that XRP will see further adoption.

A select few of leaders from the crypto community testified in front of the Senate Banking Committee on Wednesday. Garlinghouse, whose Ripple Labs created XRP, outlined how he thought Congress should regulate the industry, saying that a lack of rules has "prohibited meaningful progress."

Source Fool.com

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