XRP, Ripple's native cryptocurrency, has achieved a historic milestone by reaching a new all-time high of $3.39, marking its highest price point since January 2018. The digital asset has surged over 15% in the past 24 hours and 40% since the beginning of January.
The breakthrough has propelled XRP to become the third-largest cryptocurrency by market capitalization, now valued at approximately $193 billion, surpassing major players like Tether, Solana, and BNB.
This record-setting price clarifies a long-standing misconception about XRP's previous all-time high. While some platforms reported $3.84 as the peak, Ripple's CTO David Schwartz explained this figure was inflated due to the "Kimchi Premium" - artificially high prices in South Korean markets that skewed global averages.
The remarkable comeback follows years of price suppression due to the SEC's lawsuit against Ripple. The legal battle, which claimed XRP was an unregistered security, had prevented the cryptocurrency from breaking past $1 since 2021, while other major cryptocurrencies reached new heights.
The recent surge appears linked to the upcoming political transition in the United States. President-elect Donald Trump's promised crypto-friendly regulations and the anticipated appointment of Paul Atkins as SEC chair have boosted investor confidence. Market data from Santiment shows increasing large-scale transactions, with 2,365 transfers worth over $100,000 recorded in just eight hours.
Despite the SEC's recent appeal against a district court decision favorable to Ripple, market sentiment remains bullish. The crypto community anticipates the potential dismissal of the lawsuit under the new administration, which could fuel further price appreciation.
The surge has attracted substantial trading activity, with volumes increasing by 70% in a single day. Technical indicators suggest continued upward momentum, as XRP trades well above its 50-day moving average of $2.20.
This price milestone coincides with growing institutional interest, as large investors have accumulated over 1.4 billion XRP tokens, demonstrating confidence in the cryptocurrency's long-term prospects.