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XRP is approaching $0.74.
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XRP’s all-time high is $3.84, reached in January 2018.
XRP, the cryptocurrency issued by the Ripple company, is approaching its maximum price of the current year and could surpass that mark at any time.
As seen in the following graph, The altcoin was 2 cents away from touching $0.74which is the highest price reached in 2024.
In the last week XRP is up nearly 40%. Although this is a significant increase, it is far from what other cryptocurrencies such as cronos (CRO), dogecoin (DOGE) or neiro (NEIRO) had:
The rise of XRP is multi-causal. On the one hand, bitcoin (BTC)—the digital asset with the largest market capitalization—has skyrocketed and is dragging altcoins with it. Because they have a smaller capitalization, they have greater volatility and tend to rise more in price than BTC.
On the other hand, the injection of liquidity resulting from the decrease in interest rates in the United States (the main global financial potential) benefits the entire cryptocurrency market.
In addition, US President-elect Donald Trump has promised that during his term, which begins next year, he will fire Gary Gensler, current chairman of the US Securities and Exchange Commission (SEC).
Gensler has behaved as an “enemy” of the cryptocurrency industry, classifying (not him personally, but the SEC) many of them as securities (securities) not registered.
In any case, it is striking that the SEC lawsuit against Ripple for that same reason It dates back to 2020, when Trump was president.
It is worth clarifying that “Trump 2.0”, as analyst Uttam Dey has called it, is friendly to bitcoin and cryptocurrencies. This was not the case during his first presidential term, when he considered them a threat to the dollar.
The Ripple company has numerous projects for the coming months and years, which also drives the price of XRP. For example, as NoticiasVE has reported, the RLUSD stablecoin is under development and launch.
In addition, the company has recently communicated some of its work, such as the “University Blockchain Research Initiative.” This project, they report, “is transforming the academic world with more than 1,200 research projects, 850 courses, 900 campus events and 90 projects with the XRP Ledger.”
All of this serves to give greater public visibility to Ripple and, as a consequence, its cryptocurrency, XRP.