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Investors hope XRP will replicate its incredible performance during Donald Trump’s first term as U.S. President when he returns to office next year.
XRP has attracted the attention of the broader crypto community following its impressive rally in the past few days.
XRP Achieves Major Milestones
Despite a widespread market capitulation, XRP has shown resilience, surging past the $0.8 mark yesterday. XRP ranks as the best-performing asset among the top 100 largest cryptos by market cap, with a daily growth of 15.3%.
Notably, XRP’s latest rally started after the re-election of Donald Trump, who promised unwavering support for the crypto.
However, while several crypto assets, particularly Bitcoin and Dogecoin, immediately witnessed huge gains, XRP initially remained at the $0.5 level, leaving many investors frustrated. Consequently, it lost its longstanding seventh position after Dogecoin and USDC flipped it.
Following its latest rally, XRP has reclaimed its position as the seventh-largest cryptocurrency, overtaking USDC along the way. Its price also rose to a two-year high of $0.8452. This follows speculation that Ripple met with Trump’s advisory team days after the presidential election.
Popular XRP community figure Zach Rector suggested on X that Ripple CEO Brad Garlinghouse confirmed the meeting with Trump by liking his earlier post.
This triggered a new wave of apprehensions, with many people speculating that the longstanding SEC v. Ripple lawsuit could be resolved after Trump’s inauguration next year.
XRP Price When Trump Was President
XRP performed incrediblely during Trump’s first term as president, which lasted from January 2016 to January 2021.
Under his administration, XRP surged to an all-time high (ATH) of $3.84 on January 4, 2018. This has remained XRP’s peak price for nearly seven years.
It is worth mentioning that the SEC introduced the Ripple lawsuit on December 22, 2020, less than a month before Trump’s first term expired. However, the case started officially in 2021 under a new SEC leadership appointed by President Joe Biden.
The lawsuit caused XRP to miss out on the 2021 bull run, which saw several crypto assets like Ethereum (ETH) register new ATHs. With many experts confident that Ripple’s meeting with Trump would end the multi-year SEC lawsuit, XRP might become one of the shining stars in the second phase of the bull run.
Additionally, several factors, such as its payment utility, ETF potential, and non-security status, could pave the way for XRP’s substantial rally.
In the meantime, XRP is trading at $0.8230, up 15.3% in the past day and 45.03% over the last week. Its trading volume has also exploded by 73.24% to $11.06 billion. With a market cap of $45.57 billion, XRP is now the seventh-biggest cryptocurrency.