XRP adds $15 billion in a day on path to $3 
Cryptocurrency Jan 15, 2025 Share
XRP pulled off something of a photo finish in 2024 as it rapidly rallied in the aftermath of Donald Trump’s re-election from its relatively stable range between $0.40 and $0.60 to last year’s highs above $2.70.
Subsequent trading has been less certain and marked by substantial volatility, with weekly swings running as large as 25% of the token’s value, with prices fluctuating between $2.30, dipping below $2, and rising back above $2.40.
Finally, mid-January 2025 brought a major rally that saw XRP break above $2.80 and add as much as $15 billion to its market capitalization within 24 hours by press time. Indeed, the token surged from approximately $147.5 billion to about $163.5 within just one day.
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The rally also led to a historically high valuation as it broke above the recent and 2018 highs.
XRP 1-day market capitalization chart. Source: CoinMarketCap
Elsewhere, as XRP’s valuation is setting new records, the token’s price is likewise striving to match as it is, at its January 15 price of $2.82, closer to surging above $3 and crossing above its old all-time high at $3.11 than it has been in years.
The discrepancy between the ATH market capitalization reached on January 15 and the gap left to be filled for XRP itself to hit a new record price stems from the fact that the token supply increased significantly since 2018.
XRP YTD price chart. Source: Finbold
XRP surge mirrors broader crypto market rally
The upsurge can be linked to a string of factors that started converging in January 2025.
The primary that likely impacted the price of XRP is the performance of the world’s premier cryptocurrency, Bitcoin (BTC). Specifically, after briefly plunging below $90,000 on January 13, BTC found its footing and is, at press time, again testing acceptance at about $97,000.
As is frequently the case, Bitcoin’s performance has had a major impact on the wider market and the total valuation of cryptocurrencies found its recent lows at the same time as BTC and has rebounded approximately $200 billion since.
Cryptocurrency market capitalization 7-day chart. Source: TradingView
Still, it is worth pointing out that, in recent weeks, $97,000 has been a troublesome level for BTC, and there is a danger it will once again face rejection, taking other digital assets lower along with itself.
The Ripple-SEC battle might end on January 15
More XRP-specific developments might have contributed to the strong rally.
January 15 is bringing the final appeals deadline in the long-standing legal battle between the Securities and Exchange Commission (SEC) and Ripple Labs, meaning that, depending on today’s events, XRP might finally step out of the regulator’s shadow.
Furthermore, no matter the next step in the court case, Gary Gensler’s departure as the watchdog’s Chair and the entry of Paul Atkins – generally seen as far more crypto-friendly – is widely expected to significantly ease conditions for the industry and likely lead to strong rallies for many coins and tokens.
The incoming U.S. administration could send XRP ‘to the moon’
Finally, Donald Trump is scheduled to be inaugurated as the President of the United States on January 20. Though the event will not have a direct bearing on digital assets, it will probably be an important psychological catalyst for investors, as the Republican has been engaging in highly crypto-friendly rhetoric both before and after the elections.
Additionally, Trump pledged to introduce numerous executive orders on his very first day in office, some of which are expected to benefit the digital assets industry directly.
Featured image via Shutterstock