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XRP has demonstrated remarkable strength, breaking past the $3 mark for the first time in three years.

On January 16, Ripple (XRP) experienced a significant surge of over 16%, climbing from a low of $2.73 to an intraday high of $3.17. This jump increased its market capitalization to $178 billion, securing XRP’s position as the third-largest cryptocurrency, trailing only Bitcoin (BTC) and Ethereum (ETH).

XRP up 16% today, what is driving the gains? - 1
XRP price chart for the past 24 hours — January 16 | Source: crypto.news

As of the latest update, XRP has remained up by 8.4%, bolstered by heightened trading activity. The token registered a trading volume of $23.8 billion within 24 hours, a remarkable increase of 79.4% from the previous day.

What’s Driving XRP’s Surge?

XRP’s rally, which began around December 30 when prices hovered near the psychological support level of $2, is largely driven by optimism surrounding political changes following President-Elect Donald Trump’s upcoming inauguration on January 20.

The SEC’s lawsuit against Ripple, claiming unregistered securities offerings via XRP sales since December 2020, has faced delays under current SEC Chair, Gary Gensler.

Gensler is expected to resign, with pro-crypto advocate Paul Atkins slated to assume his position. This transition has sparked speculation that the SEC may reconsider its appeal against Ripple, potentially leading to a favorable resolution for XRP.

Ripple CEO Brad Garlinghouse indicated that the changing political climate has positively affected Ripple’s operations, as evidenced by a surge in partnerships since late 2024.

Beyond regulatory hopes, the evolution of Ripple’s ecosystem, including the RLUSD stablecoin launched in December 2024, has fostered positive sentiment among investors, enhancing the token’s utility.

Following its launch, RLUSD has garnered a market capitalization of over $72 million and a trading volume of $141 million, outperforming competitors like PayPal’s PYUSD.

Moreover, XRP has gained traction from meme coins, many of which have seen significant gains, while whale activity has also contributed to the token’s recent price increases.

Outlook for XRP

With Bitcoin’s resurgence above $100,000, market analysts predict XRP’s upward momentum may continue, with some projecting a potential rise to a long-anticipated $10.

Analyst Ali Martinez remarked that XRP is currently breaking out bullishly, supported by recent whale purchases, suggesting it may soon exceed its previous all-time high of $3.40, reached in January 2018.



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