XRP, the world’s third-largest cryptocurrency by market capitalization, hit a record high at $2.90 on Tuesday before pulling back — with its rally fueled by optimism around a more friendly regulatory environment under the upcoming Trump administration.

Justin Sun, who recently made headlines for buying, then eating, a $6 million banana art piece, is under investigation by the Securities and Exchange Commission on charges of fraud, market manipulation and other alleged violations.

President-elect Donald Trump's support for cryptocurrency has pushed several digital assets to skyrocket in price since his re-election. His position is solidified with his choice of close