XRP leads the Trump trade bull run. But can it actually sustain it?
The post XRP leads the Trump trade bull run. But can it actually sustain it? appeared on BitcoinEthereumNews.com.
XRP has skyrocketed 370% since Donald Trump’s election victory, taking the lead in what’s now being dubbed the “Trump trade bull run.” Bitcoin, for all its clout, has only climbed 46%, and the broader crypto market, measured by the CoinDesk 20 index, has risen 93%. XRP blew past Solana, claiming the third spot in market value, sitting behind only Bitcoin and Ethereum. Matt Hougan from Bitwise Asset Management called it logical. “The asset that’s been at the front of the Peloton taking the regulatory headwinds has been XRP,” he said, adding that if regulation flips from a headwind to a tailwind, XRP stands to gain the most. Whether you’re an XRP fan or not, the numbers don’t lie. But the rally is more than numbers; it’s a loud victory lap for XRP’s hardcore supporters, who stayed loyal even when Ripple, XRP’s parent company, was locked in a brutal legal brawl with the SEC. From courtroom clashes to ETF dreams XRP was created in 2012 as the native token of the XRP Ledger, an open-source blockchain powering Ripple’s cross-border payments system. The irony? While Ripple focuses on global transactions, 95% of its business happens outside the U.S. Ripple also happens to hold the majority of XRP’s supply, which makes things interesting when regulation gets involved. The SEC battle has been a headache for years. Last summer, the drama hit its peak. A judge ruled that XRP wasn’t a security when sold to retail investors on exchanges but was an unregistered security offering when sold to institutional investors. It’s a win, sort of, but it cleared the air enough for XRP to thrive. Now, heavy hitters like Bitwise, WisdomTree, and 21Shares are lining up to launch XRP-backed ETFs. That’s one reason XRP is now the third-largest crypto, but size alone doesn’t guarantee…
Filed under: News - @ December 14, 2024 8:13 pm