Author: Socra, Golden Finance

On December 2, the market value of XRP surpassed USDT and Solana, ranking third in the cryptocurrency market value list, and surpassed Pinduoduo to rank 138th among global mainstream assets. Bit.

As XRP rose above $2, it also successfully set a new high since April 2021. On the eve of XRP's takeoff, Ripple CEO said that Trump has brought new hope to the encryption industry, and XRP may usher in a turn for the better. To the surprise of many investors, this turn of events happened quickly and violently, with the price of XRP rising by 400% in the past month. But with such a high increase, can I still get XRP now?

1. The old XRP tree blooms

In early November this year, the price of XRP has been hovering around US$0.5. But after Ripple CEO spoke on November 10, saying that Trump might bring a turnaround for XRP, the price of XRP really soared.

According to CoinMarketcap data, as of this writing, XRP has risen from approximately US$0.5 to around US$2.5, with an increase of 400% in the past month.

After reaching a stage high of $1.966 at the peak of the bull market in April 2021, XRP has continued to fall to this day. The duration has spanned 3 and a half years, with the lowest falling to $0.287 during the period.

The soaring price of XRP has also brought about a soaring market value. Not only does it surpass USDT and Solana with a market value of nearly 140 billion U.S. dollars, ranking third in the market value of cryptocurrencies, it is also equivalent to Compared with traditional enterprises, it surpassed Pinduoduo and Mitsubishi UFJ Financial Group and rose to the 136th place in the global mainstream assets.

In addition, data shows that XRP has active trading volume on major exchanges. The 24-hour spot trading volume of XRP/KRW on the Korean exchange Upbit reached US$3.8 billion, 11 times its BTC trading volume, exceeding Binance’s XRP spot trading volume; the 24-hour spot trading volume of XRP/KRW on Bithumb reached US$1.2 billion, Accounting for 32% of its total transaction volume.

The xrpscan data also shows that the number of XRP active accounts increased by 100% in November, and its on-chain indicators show positive signs of recovery. The number of active accounts or unique senders on the XRP network increased from 15,592 on November 1 to 47,044 on November 16. The total number of active accounts doubled on average in November (a 100% increase) from around 12,000 to 25,000 this month, and the number of new accounts activated on the XRP ledger also increased significantly in November, indicating a large influx of new users on the network. enter.

Ripple CEO seems to have expected the above-mentioned performance of XRP. As early as early November, he said that Trump may bring new hope to the encryption industry, XRPOr there will be a turning point.

He explained that Trump may change cryptocurrency regulation after taking office and resolve Ripple's years-long legal dispute. He mentioned that XRP has experienced many setbacks since the SEC sued Ripple, but as the adverse market factors subside, the situation is turning and XRP’s future prospects have become brighter.

2. Multiple positive blessings

1. Relaxed expectations

The positive expectations for encryption after Trump came to power continue to bring optimism and confidence to the encryption industry, and Ripple The CEO also mentioned that Trump hopes to resolve Ripple’s years-long legal dispute.

It has since been revealed that Trump may meet with Ripple CEO and other encryption industry representatives to participate in discussions on the formulation of a US encryption policy.

Companies such as Ripple are vying for seats on Trump's promised encryption committee, seeking to have a say in his planned reforms of the United States.

The former chairman of the U.S. CFTC also predicted that the SEC will abandon its lawsuit against Ripple, which indicates that regulatory changes may trigger a sharp rise in XRP.

2. The launch of XRP ETF and the expected launch of financial products

Ripple CEO said that the XRP ETF is destined to be launched.

Bloomberg ETF analysts pointed out that altcoin ETFs such as XRP may need to be approved by the end of 2025. The new SEC leadership in 2025 may be more friendly to cryptocurrencies, and ETF products may be allowed to add staking functions by then. .

Ripple is expected to receive approval from the New York Department of Financial Services to issue stablecoin RLUSD, which may be launched on December 4. If approved, Ripple will be able to legally offer RLUSD to the public, making it a major player in New York’s regulated digital finance market and the broader stablecoin ecosystem. The move will also bring Ripple into line with other well-known U.S. stablecoin issuances. Direct competition with existing vendors such as Circle, Paxos and Gemini.

WisdomTree will launch XRP ETP on the European exchange. This product will be 100 backed by spot XRP. The assets will be stored in cold wallets and will adopt a dual custody model and be hosted by a regulated custodian.

In addition, WisdomTree has registered the XRP ETF in Delaware, USA. 21Shares also submitted Form S-1 to the US SEC to apply for the launch of XRP ETF, and Bitwise submitted an XRP ETF application in Delaware.

Grayscale opens private placement subscriptions for trust funds including 17 tokens including XRP to qualified investors. Robinhood's US platform has re-listed SOL, ADA and XRP, and newly listed PEPE

3, boosted by giant whales

Korean exchanges Upbit and Bithumb listed XRP trading volume reached US$3.8 billion and US$1.2 billion respectively. Scopescan, an analysis agency, said that Korean investors may be the main driving force for XRP price increases.

In early November, 400 million XRP were unlocked from an unknown escrow wallet, equivalent to approximately $203 million.

At the end of September, Ripple whales purchased more than 470 million XRP for 10 consecutive days.

However, despite XRP's huge gains and various positive blessings, some analysts still issued warnings:

CryptoQuant Analyst: XRP open interest has risen by 37% , or lead to a decline. The last similar incident led to a decline of 17%< /p>

Other analysts believe that the current XRP target price may be between US$1.95 and US$2.05, but what needs to be noted is that since November 16, XRP price and trading volume have shown an inverse correlation, indicating that XRP is going through a distribution phase and market traders may be looking to sell.

Summary

As a veteran project, it is not easy for XRP to explode again. Recently, there have been many positive developments surrounding it. Whether it is the regulatory level or the expectation of the launch of financial products such as ETFs, investors have great expectations for it. However, the currency circle has always had an investment tradition of speculating on the new rather than the old. Whether XRP can continue to grow bigger and stronger and create greater glory remains to be tested by time.