XRP has experienced a significant surge this weekend, breaking through the $2.00 mark for the first time in nearly seven years, signaling a potentially pivotal moment for the cryptocurrency. As of this report, XRP is priced at $2.16, marking a 15% increase for the day and a remarkable 54% gain over the past week. This performance underscores an impressive 318% rise in value over the last month, resulting in a market cap of $134 billion. This surge has allowed XRP to outpace Solana, which currently has a market cap of approximately $112 billion, making XRP the fourth-largest digital asset by market value.
A crucial factor contributing to XRP’s ascent appears to be growing optimism regarding its regulatory outlook, especially following the prospective political shifts in the run-up to the Trump administration. With the SEC historically targeting Ripple Labs—creators of XRP—for alleged securities violations, the anticipation of new regulatory environments under a Trump-led government is fostering greater investor confidence. This change could lead to improved prospects for XRP, including potential recognition for use in spot exchange-traded funds (ETFs).
Despite being 41% shy of its all-time high of $3.40 set in January 2018, XRP is inching closer to its previous peak, reflecting a renewed interest in the asset. Meanwhile, Ethereum also demonstrated positive momentum, reaching a six-month high of $3,741 before settling at $3,707. Ethereum has shown an 11% increase over the week and a 48% rise in the last 30 days, all amidst a generally favorable atmosphere for cryptocurrencies following Trump’s election victory.
Bitcoin remains relatively stable at around $97,200, showcasing the resilience of the entire cryptocurrency market during this period of growth.
This trend signals a potentially positive future for XRP and other major cryptocurrencies, underscoring the possibility of further regulatory clarity and adoption within the financial landscape. As investor sentiment strengthens, these developments may pave the way for a more robust and inclusive cryptocurrency market.
Summary: XRP has surged past $2.00, reaching $2.16 and gaining 15% in a day, driven by optimism over its regulatory future amid political changes. XRP has overtaken Solana, positioning itself as the fourth-largest cryptocurrency. Ethereum also sees gains, marking a favorable moment for major cryptocurrencies.