The crypto community will end 2024 on a bright note as Bitcoin has broken through the $100,000 mark and even climbed above $108,000 before falling back to $95,000. On the other hand, the US government has approved Bitcoin and Ethereum exchange-traded funds (ETFs), sparking a resurgence in the crypto space. Additionally, meme coins, RWA projects, ADA, and even XRP have recently made remarkable comebacks.
Speaking of XRP, Ripple Labs achieved a partial victory over the U.S. Securities and Exchange Commission (SEC) in 2023. Rumors have it that the pro-crypto motive driven by Trump's appointment fueled the XRP rally. After Trump expanded his support for cryptocurrencies, XRP surged into an upward trend, rising above $2.86 a few weeks ago.
According to CoinMarketCap data, XRP, which was on the brink of dropping out of the top 10, now has a market capitalization of $128 billion and is the fourth-largest digital asset in the world. At the time of publication, XRP is trading at $2.18 with a market capitalization of $124.42B.
On the other hand, Cardano (ADA) also signaled potential bullish momentum. Dropping out of the top ten earlier this year, ADA became bullish during the rally of the last quarter, rising to a yearly high of $1.32 from a low of $0.2799. At the time of writing, it was valued at $0.8957 and ranked ninth in terms of valuation. Meme coins on Solana (SOL) surged sharply earlier this year after the launch of the Pump.fun platform. A similar situation unfolded on the Tron (TRX) network. On the other hand, Dogecoin (DOGE), the largest meme coin by market capitalization, also became optimistic, reaching a yearly high of $0.4835 after bouncing back from $0.07497.
The spike can be attributed to the launch of the Department of Government Efficiency (DOGE) under the leadership of Donald Trump. Notably, the department will be headed by Tesla CEO Elon Musk and Vivek Ramaswamy, one of the key candidates for the 2024 U.S. elections. Following this, important meme coins like Pepe (PEPE) and dogwifhat (WIF) surged over 1200% earlier this year as capital flowed from altcoins into meme coins.
Finally, the RWA sector experienced powerful growth driven by increasing demand for the tokenization of natural resources and other traditional investment paths. Thanks to the integration of DeFi and TradFi, RWA tokens saw a significant surge, led by an enormous price increase of Mantra (OM) at 8984.65%.
