XRP&#039, s Large Year: Almost All-Time High Price, ETF Optimism, and SEC vs. Wave

Since Donald Trump became the president-elect in November, Ripple and XRP have gotten more popular, indicating a possible suitable administration for crypto property.

As XRP’s price record for the most recent week neared its all-time higher, causing Ripple’s stash of the asset to exceed record amounts, which only added to the heightened excitement next week.

What you need to know about the crazy year of Ripple and XRP, below.

XRP nears all-time great

XRP traded around$ 0.50 in the days leading up to the U. S. elections in November. The token has grown by more than 500 % to a current price of$ 3.15 since that time, overtaking stablecoin Tether in the process, becoming the third-largest cryptocurrency by market cap.

Thanks to the surge, the token nearly set a new all-time high, peaking at$ 3.38 on January 16, just$ 0.02 shy of its all-time high of$ 3.40 set in 2018 per data from CoinGecko.

As of this writing, XRP has outperformed its main crypto contemporaries like Bitcoin and Ethereum by more than 25 % on the week, despite Solana’s increase in weekly gains being largely driven by the momentum surrounding Trump’s official image gold start.

ETF enthusiasm grows

The rising enthusiasm about an XRP ETF authorization may contribute to some of the increase in demand for XRP. An article from experts at JP Morgan last year suggested that an XRP ETF could potentially generate billions of dollars from investors if approved.

This report draws on previous remarks made by Ripple Labs CEO Monica Long, who suggested that she believes an XRP ETF will get approved “very immediately.”

Ripple’s assets rise

The major price appreciation in XRP has bolstered Ripple’s holdings tremendously, increasing by about$ 115 billion since election day at the current price

Based on its most recent financial statements, the company holds around 4.44 billion XRP, and controls another 39 billion XRP in escrow—a social sum now worth$ 136 billion at the token’s recent price. At the time of the vote, this sum was for around$ 21 billion.

Ripple and other well-known bitcoin companies, including Coinbase, spearheaded a$ 300 million super PAC to strengthen the US crypto regulatory setting. Thus far, that guess appears to be paying off nicely.

Meme coins wave

After a short uptick in early December, joke coin exercise on the XRP Ledger had generally waned until it shot up once more next week.

The task was led by ARMY, a joke coin based on the passionate backers of the Ripple-linked property, which reached a new all-time deep with a$ 107 million business cover. Even though the coin has since reduced to around a$ 67 million market helmet, it also leads different XRP image cash in trading volume, which has increased in response to the December rush.

The XRP Ledger’s highest number of active addresses since December 6 exceeded 63, 000 on January 16 based on data from XRP Scan, partially due to the image gold trading activity.

SEC is no giving away

The latest SEC administration is not giving in to its long conflict with Ripple, even though a more favorable regulatory environment might be in the offing.

The police organization refrained from requesting the SEC to prolong its starting small in an charm against a decision that favored Ripple, according to Ripple Chief Legal Officer Stuart Alderoty this week. On Wednesday, the SEC filed the brief, asking the court for a reclassification of the security status of XRP.

” What a waste of time and taxpayer dollars”, he wrote on X ( formerly known as Twitter ).

Despite the frustration, Adelroty remains confident in Ripple’s position, indicating he looks forward to working with the new SEC leadership to resolve the matter.