- XRP surged close to its 2018 all-time high, peaking at $3.38 amidst a weekly 45% rally fueled by optimism over U.S. crypto regulations.
- The SEC's appeal against Ripple's partial legal win keeps regulatory uncertainties alive, despite rising investor enthusiasm for XRP.
XRP, the cryptocurrency linked to Ripple Labs, came within striking distance of its all-time high price on Thursday, reaching $3.38 before retreating slightly to $3.30, according to CoinGecko data. This marks a 10% rise in the past 24 hours and a 45% surge over the last week. The all-time high of $3.40 was set in January 2018.
The sharp rally in XRP’s value comes amid growing optimism regarding the regulatory environment for cryptocurrencies in the United States. Speculation is mounting that XRP-focused exchange-traded funds (ETFs) could gain approval under the incoming administration of President-elect Donald Trump, who is expected to take a pro-crypto stance. Since Trump’s re-election on November 5, XRP has soared by 560%, riding a wave of enthusiasm among investors.
Ripple and XRP have been at the center of a legal dispute with the U.S. Securities and Exchange Commission (SEC). The agency recently filed an appeal challenging a 2023 court ruling that partially favored Ripple. The appeal seeks to overturn the decision that certain XRP transactions do not constitute unregistered securities under federal law.
The SEC argues that Ripple’s promotional efforts created an expectation of profit among retail investors, making the token an investment contract under the Howey Test.
Despite the legal uncertainty, Ripple’s leadership remains confident. Earlier this month, Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty met with Trump to discuss cryptocurrency policy. Sharing a photo of the meeting on social media, Garlinghouse described it as a “strong start to 2025.”
Edited by Harshajit Sarmah
