17th January 2025 – (New York) XRP has surged 14% on Thursday, significantly outpacing Bitcoin, which saw a mere 0.8% increase. This remarkable rise in value is indicative of the growing interest from retail investors, as reflected in Google Trends data, which shows that searches for XRP have surpassed those for Bitcoin over the past week. Currently trading at $3.35, XRP is approaching its all-time high of $3.40 set in 2018, with a total market valuation now reaching $192 billion.
The bullish sentiment surrounding XRP is attributed to several factors, including speculation that Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) may be nearing a favourable resolution. Despite the SEC recently appealing a court ruling that favoured Ripple, the market has remained resilient. Ripple’s Chief Legal Officer, Stuart Alderoty, dismissed the ongoing litigation as “just noise,” suggesting that investors are optimistic about the potential for a new, more crypto-friendly SEC under President-elect Donald Trump.
As anticipation builds for Trump’s administration, many crypto supporters are hopeful for a shift in regulatory attitudes that could benefit Ripple and other cryptocurrency firms. With the SEC’s current chair, Gary Gensler, expected to be replaced, insiders believe the new appointee, Paul Atkins, may adopt a softer approach, further encouraging investor confidence. As XRP continues to gain traction, there is speculation about the potential launch of an XRP exchange-traded fund (ETF), following the success of Bitcoin and Ethereum ETFs, which attracted substantial investments in 2024.
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