XRP posted a record performance over the last 30 days, going from $0.46 to $2.60 in 30 days. What’s happening?
The market environment is very good for XRP, various elements boost the price of the third cryptocurrency in terms of marketcap. Yes you read correctly, XRP passes in 2 days only in terms of capitalisation ahead of BNB, SOL and USDT. This sudden increase is explained by various favourable alignments.
Donald Trump’s election has replayed the ecosystem. Long victimized by Gary Gensler, the announcement of his departure is a sign of better days for Ripple and investors have understood this. As a reminder, Ripple was accused of having raised $1.3 billion through the sale of XRP. The SEC considered that it was a false sale of unreported securities. This dispute dates back to 2020 and has always had a heavy impact on the ecosystem. With a new, more supportive US administration, Ripple could get away with it. This good news has encouraged investors to take a massive position on Ripple.
The market mindset is also generally favourable to XRP. While AI-enabled projects were expected to be the potential big winners of the bullrun, the American election will awaken investments related to payment currencies. Stellar and Litecoin are also experiencing exceptional increases in the nature of their project, which seems to be of great interest to investors. This is the lesson of November 2024, institutional investors have gained weight in the ecosystem.
The promise of new XRP ETFs encourages many investors to preposition themselves on XRP. If this happens, a new surge could still hit XRP however many important decisions are coming to the USA, if the news is not good, it could send the cryptocurrency back to square one. Prudence therefore.
