XRP Price Hits 7-Year High, Now Up 274% This Month

Bitcoin may have taken the lead in the crypto industry since Donald Trump won the US presidential election this month, but XRP – the Ripple-linked asset – has been making much bigger gains lately. And on Saturday, the price reached a price not seen in almost seven years.

XRP jumped to a recent high of $1.93 on Saturday, surpassing its 2021 peak of $1.92. The last time XRP was worth $1.93 was in January 2018, according to data from Coin geckojust after hitting its all-time high of $3.40. That was almost seven years ago.

Now trading at $1.89, XRP is up nearly 30% in the past week, pushing its 30-day gain to 274%.

What’s Driving the Renewed Interest in XRP? It’s undoubtedly the prospect of a crypto-friendly Trump administration that has broadly benefited crypto in recent weeks — and especially the prospect of Securities and Exchange Commission (SEC) Chairman Gary Gensler being out of a job in January.

Under Gensler, the SEC has aggressively targeted crypto companies in the United States, particularly Ripple Labs, whose founders created XRP and use the digital asset for money transfer services. The two sides have traded blows for years, with both sides claiming victories along the way.

But with Gensler announcing his resignation effective January 20, 2025 – the date Trump will be sworn in – Ripple Labs could find an easier path to resolution in the near future. And this can also clarify the uncertainty about the regulation of XRP. That’s why companies like WisdomTree and Bitwise have been making ETF plans in recent days.

XRP has fallen sharply in the years since it hit its all-time high, dropping to a low of $0.127 in March 2020. Someone investing in XRP at that price would have seen a gain of 1,420% from its recent high earlier Saturday.