CNBC names XRP winner of "crypto rally"
TV channel praised XRP
CNBC has labeled XRP as the biggest winner of the cryptocurrency rally led by the new U.S. President Donald Trump. XRP has shown impressive performance since the election, reaching nearly $3 earlier this month.
According to CNBC, XRP’s price has surged by 370% since the U.S. election. For comparison, Bitcoin rose by 46%, while the overall cryptocurrency market saw an average increase of 93%. Before the election, XRP was trading at around $0.5, but after Trump's victory, its price skyrocketed to $2.86 by December 3.
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During this rally, XRP surpassed Solana (SOL) and Tether (USDT) to become the third-largest cryptocurrency by market cap, although it later lost this position to USDT. The primary driver of this growth was speculation that Trump’s victory could resolve the Ripple lawsuit. The court ruling that XRP is not a security, combined with Trump’s reelection, increased institutional interest in XRP.
What’s next for XRP?
Major investment firms like Bitwise, Canary Capital, WisdomTree, 21Shares, and Grayscale Investments are racing to launch XRP-linked ETFs. The SEC may approve one of these applications, potentially making XRP the third cryptocurrency in the U.S. with an approved ETF.
Recently, XRP tested investors’ confidence, dropping below $2 to $1.9 on December 10. However, this decline was short-lived, as XRP rebounded to $2.4 following Ripple CEO Brad Garlinghouse’s announcement of NYDFS approval for the RLUSD stablecoin.
Earlier, renowned trader Peter Brandt shared what he called the “most important” chart in the cryptocurrency world, showcasing XRP’s market cap breaking above a key consolidation level.
