XRP rose to $2.37, becoming the third-largest cryptocurrency with a market cap of $135.37 billion, surpassing USDT and Solana.
XRP has returned to its pre-SEC lawsuit levels, returning to its value from the regulatory uncertainty created by the Hinman emails. Ripple’s potential new partnerships and leadership changes suggest that XRP could rise and grow even higher.
With XRP surpassing $2, the cryptocurrency market is back in action, with XRP regaining its third place with a market cap of $135.37 billion.
XRP is currently trading at $2.37, marking an impressive 25.57% increase since the opening of the Monday session. Crypto enthusiasts say that XRP’s upward movement could rival Ethereum, which currently has a market cap of $441.46 billion. Crypto expert Amelie points to a recent meeting between Cardano founder Charles Hoskinson and Ripple CEO Brad Garlinghouse.
Also notable are rumors that Garlinghouse could be a potential crypto advisor to Donald Trump. Such a development could further strengthen XRP’s status, especially considering Trump is known to have a crypto-friendly approach.
XRP has regained its market value from when the SEC deems Bitcoin and Ethereum securities in 2018. This is similar to the situation before Hinman’s “not decentralized enough” argument in June 2018. After that speech, Ethereum surpassed XRP in November 2018 and increased its market value.
Documents obtained in the Ripple case, known as the “Hinman emails,” showed that some officials within the SEC disagreed with the content of the conversation. In particular, there were concerns about regulatory uncertainty surrounding other cryptocurrencies. Despite all of these clarifications, XRP’s regulatory status is still unclear, and legal experts predict the case could drag on until July 2025.
Attorney John Deaton, a strong advocate for Ripple and XRP investors, has stated that he will continue to support the case despite his failed attempt to run for Senate. This commitment underscores the importance of the case to the crypto industry.
The SEC’s aggressive stance on the cryptocurrency market has been widely criticized under chairman Gary Gensler. Gensler’s resignation could mark a significant turning point in the crypto world as calls for regulatory uncertainty grow. Some observers suggest that Gensler’s departure could lead to a crypto-friendly regulatory environment.
The general consensus is that the current Trump administration could take a more positive approach to cryptocurrencies, which could improve Ripple’s legal standing and end the long-standing regulatory uncertainty.
With XRP’s recent gains, analysts are warning that XRP “whales” could be taking profits amid significant transaction increases.
“Historically, large increases in whale-exchange transactions have coincided with XRP price peaks. This suggests that whales tend to sell at local peaks, often sending large amounts of XRP to exchanges. The recent increase in whale-exchange transactions coincides with XRP’s local peak price of around $2.3. This could indicate that whales are preparing for profit-taking or increased market activity,” the CryptoQuant analyst commented.