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The crypto community would conclude the year 2024 on a happy note as Bitcoin broke above the $100K milestone and even surged above $108K before dipping down to $95K. On the other hand, the U.S. authorities approved Bitcoin and Ethereum exchange traded funds (ETFs), sparking a resurgence across the crypto space. Further, meme coins, RWA projects, ADA, and even XRP made remarkable comebacks recently.
Talking about XRP, the Ripple Labs secured a partial victory against the U.S. Securities and Exchange Commission (SEC) in 2023. Speculations were rife that the pro-crypto momentum brought by Trump’s appointment fuelled XRP’s rally. With Trump extending his support to crypto, XRP broke into an uptrend, surging over $2.86 a few weeks ago.
According to CoinMarketCap data, XRP, which was on the verge of dropping out of the top 10, now has a market cap of $128 billion and is the fourth-largest digital asset in the world. At press time, XRP is trading at $2.18 with a market cap of $124.42B.
On the other hand, Cardano (ADA) also signaled a potential bullish momentum. Dropping out of the top 10 earlier this year, ADA turned bullish during the last quarter rally, surging to a yearly high of $1.32 from a low of $0.2799. At the time of writing, it is priced at $0.8957 and is ranked ninth in terms of valuation.
Meme Coins and RWA Sector Growth
Meme coins on Solana (SOL) surged earlier this year after the launch of Pump.fun platform. A similar situation unfolded on the Tron (TRX) network. On the other hand, Dogecoin (DOGE), the largest meme coin by market cap, also turned bullish, reaching a yearly high of $0.4835 after rebounding from $0.07497.
Read also: Crypto Price Trends: How XRP and SUI Could Shape 2025
The surge can be attributed to the launch of the Department of Government Efficiency (D.O.G.E.), under the administration of Donald Trump. Notably, the department would be headed by Tesla CEO Elon Musk and Vivek Ramaswamy, one of the key candidates in the 2024 US elections. Following this, significant meme coins like Pepe (PEPE) and dogwifhat (WIF) rallied over 1,200%, earlier this year, as the capital flowed from altcoins to meme coins.
Finally, the RWA sector witnessed a massive rally, driven by the growing demand for the tokenization of natural resources and other traditional investment routes. By integrating DeFi and TradFi, the RWA tokens witnessed a significant surge, led by a massive 8984.65% in the price of Mantra (OM).
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