On December 2, XRP's market capitalization surpassed USDT and Solana, ranking third in the cryptocurrency market capitalization list, surpassing Pinduoduo to rise to 138th among global mainstream assets. Its price broke $2, reaching a new high since April 2021, with a nearly 400% increase over the past month.

XRP Blooms Again

At the beginning of November, the coin price hovered around $0.5, and after Ripple CEO's speech on November 10, it skyrocketed. Its market capitalization surged, with active trading volumes on various exchanges, a 100% increase in active accounts in November, and positive recovery signs in on-chain metrics. The Ripple CEO once stated that the Trump administration could bring hope to the cryptocurrency industry by resolving Ripple's legal disputes, and the situation is changing.

Multiple Positive Factors Supporting

1. Expectations of Policy Easing: After Trump took office, there are strong expectations for favorable cryptocurrency policies, and he may meet with Ripple's CEO and others to discuss policy formulation. The former CFTC chairman predicts that the SEC will abandon the lawsuit against Ripple.

2. Anticipation of XRP ETF Launch and Financial Products Listing: Ripple's CEO claims that the XRP ETF is destined to be launched. Bloomberg ETF analysts point out the expected approval timeline and functionalities. Ripple is expected to launch the stablecoin RLUSD, and several institutions like WisdomTree have related ETF applications or product launch actions. Grayscale has opened private placements for its trust funds, and the Robinhood platform has re-listed and added related tokens.

3. Whale Support: Korean investors may be the main driving force behind the price increase, as there was a significant unlocking of XRP and purchases by whales.

However, some analysts warn that the rise in XRP open contracts may lead to a decline. Currently, its price and trading volume have an inverse correlation, and market traders may be looking to sell. Although XRP, as an established project, has many favorable conditions for this breakout, the cryptocurrency circle traditionally favors new projects over old ones, and its continued development remains to be seen.