XRP price hits a 7-year high and is now up 274% this month

Bitcoin may be leading the crypto industry as a whole since Donald Trump won the US presidential election this month, but XRP – the asset linked to Ripple – has seen much larger gains of late. And on Saturday it reached a price not seen in nearly seven years.

XRP jumped to a current high of $1.93 on Saturday, surpassing its 2021 peak of $1.92. The last time XRP was worth $1.93 was in January 2018, according to data from CoinGecko , shortly after it hit its all-time high of $3.40. That was almost seven years ago.

Currently trading at $1.89, XRP is up nearly 30% in the last week, taking its 30-day gain to 274%.

What’s Driving Renewed Interest in XRP? It is undoubtedly the prospect of a crypto-friendly Trump administration that has benefited crypto generally in recent weeks – and in particular the prospect of Securities and Exchange Commission (SEC) Chairman Gary Gensler losing his job in January .

Under Gensler, the SEC has aggressively targeted crypto firms in the United States, particularly Ripple Labs, whose founders developed XRP and use the digital asset for money transfer services. The two sides traded blows for years, both achieving victories.

But with Gensler announcing his resignation effective January 20, 2025 – the date Trump will take office – Ripple Labs could find an easier path to a resolution in the near future. And this could also clarify the regulatory uncertainty of XRP. That’s why companies like WisdomTree and Bitwise are making ETF plans in recent days.

XRP has fallen sharply in the years since hitting its all-time mark, falling to a low of $0.127 in March 2020. Someone investing in XRP at this price would have seen a 1,420% gain at the recent peak earlier on Saturday.