XRP has experienced an impressive weekend surge, climbing above the $2.00 threshold for the first time in nearly seven years, now trading at $2.16. This represents the highest value since January 2018, marking a 15% increase within a day and boosting its overall weekly performance to an astounding 54%. Over the past month, XRP’s price has quadrupled, registering a significant 318% rise during this period.
With a current market cap of $134 billion, XRP has surpassed Solana, which now stands at approximately $112 billion, to secure the position of the fourth most valuable cryptocurrency. The surge in XRP’s price is driven by a mix of positive investor sentiment regarding its regulatory outlook and the recent political developments surrounding the upcoming presidential administration. The anticipated pro-crypto stance of President-elect Donald Trump and the resignation of SEC head Gary Gensler have fueled optimism that challenges for XRP may ease under the new administration.
Despite being around 41% below its all-time peak of $3.40 from January 2018, XRP is closer to reclaiming previous highs than it has been in years. This upward momentum is part of a larger trend impacting the cryptocurrency market as a whole, following Trump’s electoral victory.
Ethereum (ETH) has also joined the uptrend, hitting a six-month high at $3,741 on Sunday, with an 11% increase on the week and a 48% boost over the last month, although it remains about 24% shy of its peak of $4,878 from 2021. Bitcoin’s performance appears relatively stable, currently priced at around $97,200.
Overall, the cryptocurrency market is showing signs of resilience and potential growth, creating a hopeful outlook for investors moving forward. With positive developments and regulatory clarity on the horizon, there may be further opportunities for growth in the crypto space.