XRP is on the rise, climbing 9% in the past 24 hours to trade at $1.14, decisively breaking through the $1.00 resistance that had held firm since December 2021.
For the loyal XRP Army, it’s a triumphant moment. Dismissed for years as the “banker’s coin,” XRP’s resurgence leaves critics scrambling to explain its impressive rally.
The catalyst? Growing optimism over a crypto-friendly regulatory environment, with expectations that the Trump administration and Congress could pave the way for a new era of market growth. This shift has set the stage for a roaring crypto bull run.
https://twitter.com/AbsGMCrypto/status/1857716907182338509
Why XRP is Pumping Today—and Why It May Keep Rising
When Ripple CEO Brad Garinghouse tweeted that he was in touch with the Trump administration’s transition team, that certainly helped to concentrate minds. The news was first reported in the Washington Post on November 11 and then referenced by Garinghouse in an X post the following day:
Chatted with @TonyRomm about how the incoming Trump Administration is already engaging proactively with the crypto industry on clear rules of the road…
what a breath of fresh air!https://t.co/uV5nCRRl1l https://t.co/XZhPZm26qv
— Brad Garlinghouse (@bgarlinghouse) November 12, 2024
Then, on Thursday, US Securities and Exchange Commission (SEC) chairman Gary Gensler gave a speech to the 56th Annual Institute on Securities Regulation event held by the Practicing Law Institute.
Gensler’s closing remarks very much sounded like a resignation speech. His departure matters a lot to Ripple because it would signal the end, or a successful conclusion for the company, to the case the agency has brought against it for allegedly selling an unregistered security.
“Before I close, I want to say something about the SEC and its staff. It’s a remarkable agency. The staff and Commission are deeply mission-driven, focused on protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation…
It’s been a great honor to serve with them, doing the people’s work, and ensuring that our capital markets remain the best in the world…
I’ve been proud to serve with my colleagues at the SEC who, day in and day out, work to protect American families on the highways of finance.” – Gary Gensler SEC Chairman
Prior to the election, many court case watchers had shifted to a position where a court settlement favorable to Ripple was likely – now the SEC will be abandoning the case entirely if and when Gensler departs.
Trump does not have the power to sack Gensler, although he may be able to remove him from the role of Chairman, but he would still be able to stay on as one of the five commissioners. The chances are that Gensler will side-step that humiliation and resign.
That appears to be what Gensler signaled on Thursday, and the XRP price responded by blasting higher, as shown in the chart below:
XRP Could Hit $5 Before 2024 Ends
Aside from a pullback in the broader market as the “Trump trade” fades, XRP is at the start of a bull run that takes it past its previous all-time-high on an intraday reading at $3.84 ($3.3 using closing day prices), with $5 the end-of-year price target for the token.
Such an advance would equate to a 338% price surge from the current level of $1.14.
It is also worth noting that 13 million XRP was burned four days ago, adding to the all-round bullish vibe.
Ripple XRP’s Power Lies in Cross-Border Transactions
XRP is a liquidity token primarily focused on financial institutions that want to improve the efficiency of their cross-border transactions. It has widened its use cases of late, but that remains it core competency.
US crypto push could mean a bright future for Ripple XRP cross-border payments
If the US opens up crypto in the way that the incoming Trump administration says it must, then the fundamental business case for XRP becomes a truly global proposition.
Bear in mind, though, that Ripple now has a stablecoin called RLUSD, which will also be used in its payment solutions along with XRP, under the banner of the Ripple Payments Solution brand.
As well as inserting itself at the corporate level, where treasury departments might be interested in using its technology, given a clearer regulatory framework, sovereign actors may also be interested at the central bank digital currency (CBDC) level.
US brokerage firm Alliance Bernstein commented in a note to clients on Monday about the crypto bull market, “Buy everything you can.”
XRP should probably be in the portfolio of every discerning crypto investor as there is plenty of catching up for the token to do as it emerges from a background of legal uncertainties with its bull case shining bright. However, a balanced portfolio for diversification reasons should consider a range of digital assets.
Wondering What to Buy with XRP? Pepe Unchained Is the Next Big Thing
XRP could be one of the breakout stars of this bull run but it would be remiss not to mention the hottest sector in crypto right now, which is meme coins.
Here are three you may wish to consider buying in ICO, where the best returns on investment are to be had.
Pepe Unchained ($PEPU) is the first meme coin to have its own Ethereum Layer 2 blockchain. It’s raised $35 million in ICO, which finishes in 25 days, so there’s no time to lose if you wish to contribute.
The ecosystem includes Pepe’s Pump Pad, an Ethereum-focused pump.fun, where meme coins can be launched by literally clicking a few buttons.
The project is raising more than $1 million every 24 hours – whales can’t get enough of $PEPU, as this $50,000 buy attests. The price of the $PEPU token presale increases every 12 hours and at the time of writing is priced at $0.012891.
Flockerz ($FLOCK) is “the people’s meme coin.” It is the first meme coin that will be run by its token owners through its Vote-to-Earn (V2E) mechanism. Flockerz empowers its community – The Flock – to guide the project by voting on proposals and are rewarded for their participation. Flockerz has raised $2.2 million and is priced at $0.006053 in the current price stage, which ends in one day and 12 hours.
Crypto All-Stars ($STARS) is a meme coin ecosystem that introduces the innovative concept of unified staking for meme coins. The MemeVault Network allows meme coin fans to stake their tokens, but to max-out returns users must hold the $STARS token.
Crypto investors like what they see – the presale raise total is about $4.2 million. $STARS sells for $0.0015806 and there are only 2 days to go before the price rises.
You can buy the presales mentioned above on the Best Wallet app. The wallet’s native token $BEST is for sale exclusively to Best Wallet users in a private sale.