After a prolonged period of stagnation caused by the SEC lawsuit, $XRP
has once again captured attention by breaking past the $1 mark—something it hasn't achieved in three years. Starting the week at $0.54, XRP soared nearly 100% to reach $1.02, trading at $1.025 as of 12:45 GMT. This dramatic rally has propelled its market capitalization above $58 billion, surpassing Dogecoin.
What’s Driving XRP's Resurgence?
The surge is fueled by speculation that the newly elected U.S. President Donald Trump will introduce crypto-friendly regulations. During his campaign, Trump promised to simplify cryptocurrency rules and pledged to dismiss SEC Chairman Gary Gensler, whose tenure has been marked by aggressive actions against Ripple and other crypto firms. Gensler, who delivered a farewell-like speech on Thursday, is expected to step down soon.
A Throwback to XRP’s Glory Days XRP’s current momentum reminds investors of its historic bull run in 2018, where it skyrocketed from $0.20 to an all-time high of $3.75. While this latest rally has yet to match those heights, optimism is building as the crypto community anticipates regulatory relief and a favorable market environment. As XRP regains its footing, traders and investors alike are eyeing the potential for a new era of growth. Will it reclaim its former glory? Only time will tell.