XRP trending. Having certainty in crypto is not easy and you need to have a certain amount of courage and conviction to hodler tokens whose price stagnates for months or even years. Congratulations to the members of the XRP Army who can finally benefit from a favorable period and reap the rewards of their patience. But beyond the performance of the price, it is the entire Ripple ecosystem which is finally seeing the planets align in its favor and with the arrival of the new pro-crypto administration, it could be that the good news continues to come across Brad Garlinghouse’s desk.
- XRP has seen a spectacular increase of more than 544% since the beginning of November, marking a historic period for holders of this cryptocurrency.
- Ripple has benefited from several positive developments, including the launch of the RLUSD stablecoin and rumors of a potential XRP ETF, spreading optimism throughout the Ripple ecosystem.
The crypto market has been pushing hard behind XRP since early November
Before listing the reasons explaining the recent performance of the XRPlet’s see together some key figures, first of all those of the XRP/BTC pair. Over the month of January, it increased by 21% and if we go back to the election of Donald Trumpwe are on a +350%! At the house of Coinbasethe XRP/USD pair is simply the most traded of the last 24 hours and it even briefly took first place from Bitcoin.
According to Coingecko, it represents 25% of the total volume of the platform while on the side of Binanceshe is in second place. On the side of‘Open Interesthere too the data shows strong demand, but it is the number of addresses containing at least 100,000 dollars of XRP which is the most impressive. From around 10,000 at the end of October, today we have increased to more than 110,000, an increase of 1000%! Finally, on the price side, we went from $0.50 at the beginning of November to $3.30 today, which gives us a nice +544%.
End of the lawsuit against the SEC, ETF rumors, launch of RLUSD, the reasons for success are multiple
The reasons for this explosion in the price of XRP are obviously to be found in the United States where Ripple followed by good news and optimistic announcements. First of all, there was the expected and successful launch of the stablecoin home, the RLUSD on December 17. In a world where these cryptos indexed to currencies are increasingly popular, Ripple has taken the gamble of offering its own and by being regulated on American territory, the company has a good chance to play.
-Then there are the persistent rumors of a ETF XRP which could land on Wall Street in the coming weeks or months under the leadership of the new pro-crypto administration. XRP et Solana are two serious candidates for these new exchange-traded products and this prospect could encourage certain speculators to position themselves already on these tokens. Then, in this post-Gensler America, it would also be a question of the legal proceedings against Ripple being – finally – stopped and that society could return to normal life. This also addsoptimism in the ranks of fervent supporters of this cryptocurrency.
Finally, recently, the President-elect suggested that he would like to focus on cryptos made in USAand XRP, like SOL, have both benefited greatly from this declaration of intent! Should we go all-in on XRP? There is no evidence to suggest that the past rise will not continue and in any case, giving investment advice is not the purpose of this article. Bravo to those who are in it and patience to the others, your favorite project will end up well pumper him too. Or not.
