Ripple’s XRP token is currently outperforming the top 10 projects by market cap. The asset had an incredible year in 2024, breaching the $2 mark for the first time in nearly seven years. Ripple also settled its lawsuit with the SEC with a $125 million fine.
XRP’s price is up 10.5% in the daily charts, 5% in the weekly charts, and 274.8% since January 2024. Despite the rally, the asset has faced a 9.1% correction over the previous month.
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Why Is XRP Rallying?
XRP’s latest price spike follows a general market upswing. The cryptocurrency market seems to be recovering from its recent correction. Bitcoin (BTC) has reclaimed the $95,000 level after falling below $93,000.
XRP’s rally could be due to President-elect Donald Trump’s inauguration inching closer. Trump will be inaugurated into office on Jan. 20, 2025. Trump’s victory in the US Presidential election led to a significant market rally. Many anticipate an extended bull run under Trump’s leadership. XRP may witness a significant price bump over the next few weeks.
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AI Predicts The Asset’s Price When Donald Trump Takes Office
According to CoinCodex, XRP will hit $2.54 on Jan. 20, 2024. Hitting $2.54 from current price levels will entail a rally of about 7.63%.
The platform does not anticipate the asset’s price to stall after Trump’s inauguration. CoinCodex anticipates XRP to hit never-before-seen levels. The platform predicts the asset to trade at $4.63 on Mar. 19, 2024. Hitting $4.63 from current price levels will translate to a rally of about 96.19%.
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XRP’s price may continue rallying throughout this year. WisdomTree has applied for a spot ETF. If approved, the underlying asset could breach the $10 mark.