The crypto market might be seeing red, but XRP’s holding its ground.
Ripple’s token, backed by recent legal wins and a Donald Trump-fueled narrative, opened Monday trading above $2, and has been up nearly 5% in the past week, according to CoinGecko.
Other majors like Bitcoin, Ether, Dogecoin and Solana have been down 4% to 12% in the same period.
A 3% dip on Sunday reflects broader market jitters tied to inflation fears, but XRP is still flexing a bullish vibe.
Read more: Crypto’s X(RP) factor emerges from Bitcoin’s shadow
The Trump effect
Ripple CEO Brad Garlinghouse isn’t shy about calling out the SEC’s Gary Gensler for years of “frozen business opportunities” in the US.
Now, optimism is surging thanks to Trump’s pro-crypto stance and Ripple’s growing US deals. “Obvious and very deserved,” he said.
XRP has exploded 300% since Trump’s win, with gains fueled last week by a federal ruling in Ripple’s favor to seal sensitive legal documents. These include internal communications and proprietary details related to Ripple’s legal arguments against the SEC.
Meanwhile, the SEC faces a 15 January deadline to appeal a key decision that XRP’s public sales don’t qualify as securities.
Read more: Altcoins are set to enter their ETF era
Let the hype grow
Ripple President Monica Long isn’t letting the momentum slow. She hinted that an XRP ETF could be on the horizon and confirmed the company’s RLUSD stablecoin would hit more exchanges soon.
ETF Store President Nate Geraci also sees 2025 as a breakthrough year for crypto ETFs, predicting that at least 50 crypto-related funds could launch under the Trump administration, including one tied to XRP.
Adding fuel to the fire, Garlinghouse and Ripple’s chief legal officer, Stuart Alderoty, were spotted dining with the president-elect last week.
A photo of the upbeat duo has Ripple fans buzzing about a potential alignment with Trump’s crypto policies.
Not all the buzz has been legit, though.
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A day after Garlinghouse posted his dinner photo, a viral FOX Business interview saw David Stryzewski, CEO of insurance firm Sound Planning Group, claim that Bank of America handles all its internal transactions using XRP.
XRP fans ran with it, but it turns out that the claim was false. Louise Hennessy, a SVP for media relations at BofA, tells MONIIFY: “This is not an accurate statement.”
Over-hyped claims aside, XRP’s resilience and Ripple’s legal wins do give investors hope, but the ongoing market downturn is a sharp reminder to tread carefully.
Even the strongest narratives can’t outpace a shaky market forever.
Edited by Ankush Chibber and Amitoj Singh. If you have any tips, ideas or feedback, please get in touch: talk-to-us@moniify.com
