XRP has emerged as the standout performer in the latest cryptocurrency rally following Donald Trump’s victory in the 2024 U.S. presidential election. According to CNBC, XRP has surged an impressive 370%, outperforming Bitcoin and the broader crypto market. The token’s price, which hovered around $0.50 before the election, skyrocketed to a high of $2.86 on December 3, briefly securing XRP’s place as the third-largest cryptocurrency by market capitalization.

XRP Outshines Bitcoin and the Crypto Market

CNBC’s analysis highlights XRP’s exceptional performance compared to other major assets:

• XRP: +370% since Trump’s victory
• Bitcoin (BTC): +46%
• Broader Crypto Market: +93%

This surge propelled XRP to briefly overtake Solana (SOL) and Tether (USDT) in market capitalization. Although it has since relinquished its position to USDT, XRP’s remarkable growth underscores its resilience and increasing investor interest.

Factors Driving XRP’s Meteoric Rise

Several critical factors have fueled XRP’s unprecedented rally:

1. Speculation Around Ripple’s Legal Resolution
   Trump’s victory has reignited optimism that his administration could push for regulatory clarity surrounding Ripple Labs and XRP. The ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) has been a major source of uncertainty, and Trump’s pro-crypto stance raises hopes for a favorable resolution.
2. Pivotal Court Rulings
   Earlier this year, a federal judge ruled that XRP is not a security in certain contexts, marking a significant victory for Ripple Labs. This decision has bolstered institutional confidence in XRP and opened doors for broader adoption.
3. Institutional Adoption and ETFs
   Institutional interest in XRP has surged, with major asset managers—including Bitwise, WisdomTree, and Grayscale Investments—exploring XRP-related investment products. Speculation is mounting that the SEC may approve at least one XRP ETF, potentially making it the third cryptocurrency after Bitcoin and Ethereum to secure an ETF in the U.S.

XRP’s Path Forward

XRP’s price surge reflects growing confidence in its long-term potential. The asset’s unique position within the crypto ecosystem, combined with speculation around favorable regulatory outcomes, has positioned it as a top contender for continued growth. If an XRP ETF receives approval, it could trigger a new wave of institutional investment and cement XRP’s place among the leading cryptocurrencies.

Conclusion

XRP’s extraordinary 370% surge since Trump’s election victory highlights its growing momentum and resilience in the face of regulatory challenges. With institutional adoption on the rise, key legal victories, and potential ETF approvals on the horizon, XRP is poised to play a pivotal role in the evolving cryptocurrency market. As the political and regulatory landscapes shift, XRP remains one of the most closely watched assets in the crypto space.