2025-01-17
XRP, Ripple’s native cryptocurrency, has reached a new
all-time high of $3.385, breaking its previous 2018 peak for the first time in
nearly seven years.
The altcoin has surged by over 15% today alone and is up 40%
since the beginning of January.
With a market capitalization approaching $193 billion, XRP
has reclaimed its position as the third-largest cryptocurrency, surpassing
Tether, Solana, BNB, and others.
Over the past six years, XRP has underperformed compared to
other cryptocurrencies during bull markets.
While Bitcoin, Ethereum, and Solana repeatedly hit record
highs, XRP struggled to even break $1 since 2021.
This stagnation was largely attributed to the SEC’s
lawsuit against Ripple, alleging that XRP sales constituted unregistered
securities transactions.
However, the landscape has shifted dramatically following Donald
Trump’s re-election in November 2024.
The president-elect’s pro-crypto policies are expected to
overhaul the SEC’s regulatory framework, creating a more favorable environment
for US-based crypto firms like Ripple.
Key developments fueling XRP’s resurgence include:
Anticipated SEC Leadership Change
Current SEC Chair Gary Gensler, who has been at the
forefront of XRP scrutiny, is set to resign in the coming week. Pro-crypto
advocate Paul Atkins is expected to take the role, signaling a potential
end to the Ripple lawsuit.
Ripple’s Political Alliances
Ripple has been a consistent donor to Trump’s election
campaign and inaugural committee, indicating strong ties to the incoming
administration.
Market Sentiment: With today’s breakthrough, prominent crypto influencer Ash
Crypto tweeted, “XRP just hit a new all-time high of $3.385 after consolidating
for 7 years. This is a massive breakout. $5–$10 targets are now open. This is
the start of altseason.”
Despite yesterday’s SEC appeal against the district court
ruling that XRP sales to retail investors do not qualify as securities, the
crypto community is optimistic.
Many view this as a last-ditch effort by the regulator before
the administration changes next week. If the new SEC leadership under Paul
Atkins opts to drop the case, XRP could experience another explosive bull run.
With its latest milestone and a shifting regulatory
environment, XRP appears poised for a historic comeback. The altcoin’s
resurgence signals renewed confidence in Ripple’s vision and the broader crypto
ecosystem.
