XRP has made a spectacular jump to $1, up 97% this week alone, with a 24% increase in the last 24 hours alone. The explosive rally has crypto enthusiasts buzzing, fueled by a combination of factors including Ripple’s legal victory and growing speculation that SEC Chairman Gary Gensler may soon step down.
Understanding the Rise of XRP
XRP’s recent surge comes at a pivotal moment in the ongoing battle between Ripple and the U.S. Securities and Exchange Commission (SEC). If Gensler does resign, there is speculation that the SEC could drop its appeal in the ongoing Ripple lawsuit, giving the blockchain company significant legal leverage.
Ripple has also made progress in its legal battle, as a US judge recently granted a stay on some claims in its lawsuit with the SEC. This signals a potentially favorable outcome for Ripple, boosting investor confidence in the future of XRP.
Additionally, with the incoming Trump administration showing signs of supporting crypto innovation and providing clearer regulations, XRP is expected to benefit from potential advances such as crypto ETF approval.
The XRP price surge is not being driven solely by retail investors. Whales and sharks—large XRP holders—have been accumulating tokens aggressively, with the total amount held by these wallets now exceeding 45.6 billion XRP tokens. This is the highest accumulation level since June 2018, further indicating strong bullish sentiment.
Furthermore, developments like crypto ETF approval could further solidify XRP’s position in the broader financial ecosystem, opening new doors for growth and adoption.
Experts have predicted an explosive bull run ahead. Here’s what top analysts are expecting as XRP successfully breaks the $1 mark.
Looking ahead to 2025, the introduction of real utility for XRP could push its price even higher. If XRP achieves similar gains as it did in 2017-2018, the price could rise as high as $3.
