- XRP surpasses $2.00 mark for the first time since January 2018, reaching $2.16 with a 54% weekly gain
- XRP overtakes Solana to become fourth-largest cryptocurrency with $134 billion market cap
- Trump’s election victory and Gensler’s forthcoming SEC departure drive XRP’s 318% monthly surge
- Ethereum hits six-month high of $3,741, showing 48% growth over 30 days
- Bitcoin maintains stability at $97,200 while other cryptocurrencies experience significant gains
XRP Breaks Multi-Year Price Barrier
XRP, the digital asset associated with Ripple Labs, has achieved a significant milestone by surpassing $2.16, marking its highest value since January 2018. The cryptocurrency’s performance represents a 15% daily increase and an impressive 54% weekly gain, contributing to a remarkable 318% surge over the past month.
Market Cap Reshuffling
The price surge has propelled XRP’s market capitalization to $134 billion, enabling it to surpass Solana ($112 billion) and secure the position of fourth-largest cryptocurrency by market value. Despite the substantial gains, XRP remains 41% below its all-time high of $3.40 established in January 2018.
Regulatory Outlook Drives Growth
The recent price movement appears largely influenced by shifting regulatory expectations. President-elect Donald Trump‘s pro-cryptocurrency stance and the announced resignation of SEC Chairman Gary Gensler, effective January 20, 2025, have boosted investor confidence. The regulatory landscape’s potential transformation has sparked Optimism regarding:
- Possible spot ETF approval for XRP
- Reduced regulatory constraints
- Expanded financial use cases in the United States
Broader Market Performance
Ethereum has also demonstrated strong performance, reaching a six-month peak of $3,741. The second-largest cryptocurrency has posted an 11% weekly increase and 48% monthly gain, though it remains 24% below its all-time high of $4,878 from 2021.
Bitcoin, the market leader, has maintained relative stability at $97,200, while the broader cryptocurrency market continues to respond positively to recent political developments and institutional adoption signals.
The current market dynamics reflect growing institutional interest and changing regulatory expectations, with XRP’s performance particularly highlighting the impact of potential policy shifts on cryptocurrency valuations.
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