XRP, the cryptocurrency tied to Ripple, soared to $3.38 on Thursday, just shy of its all-time high of $3.40 set in January 2018.
Despite a slight pullback to $3.30, XRP remains up 10% in the past 24 hours and has surged 45% over the past week.
What’s Driving XRP’s Rally?
Since Election Day on November 5, XRP has skyrocketed by 560%. The victory of pro-crypto President Donald Trump has fueled optimism, with many expecting his administration to support cryptocurrency initiatives.
Specifically, there’s anticipation that Trump’s SEC will approve XRP exchange-traded funds (ETFs), a move that could significantly boost its adoption.
Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty recently met with Trump, further signaling potential regulatory shifts.
SEC Legal Battle Continues
Despite the optimism, the SEC remains locked in a legal battle with Ripple.
The agency recently filed an appeal to overturn a court ruling that partially favored Ripple by classifying XRP differently.
The case’s outcome could heavily impact XRP’s future.
2025 Outlook
Ripple CEO Garlinghouse described the start of 2025 as “strong,” and the cryptocurrency’s recent performance reflects that sentiment.
As regulatory clarity improves and market interest grows, XRP may continue its upward trajectory.
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