XRP Price Rallies to Over a Month High as Ripple (XRP) Meme Coins Gain Traction

The XRP price continued to rise, reaching its highest level in over a month as cryptocurrencies bounced back. Ripple (XRP) climbed to $2.60

Cryptocurrency prices continued to rise on Monday, with XRP leading the gains and reaching its highest level in over a month.

The XRP price reached $2.60, continuing a recovery that began on Dec. 30 when it bottomed at the psychologically important level of $2.

Several factors contributed to XRP’s rise, including the growth of Ripple’s USD stablecoin (RLUSD), which had over $72 million in assets.

CoinGecko data showed signs of increased RLUSD usage, with its 24-hour trading volume reaching $162 million, making it the sixth-most used stablecoin in the crypto market.

RLUSD surpassed other popular stablecoins, such as Justin Sun’s USDD, Frax, and PayPal’s PYUSD. Notably, PYUSD, which had a market cap of $534 million, recorded a 24-hour volume of only $22 million.

However, RLUSD faced competition from major stablecoins like Tether (USDT) and USD Coin, which had 24-hour volumes of $74 billion and $6.7 billion, respectively.

Meanwhile, XRP’s rally coincided with increased demand for Ripple meme coins among crypto investors. Among the top performers this week were newly launched tokens such as Pongo, XRP Army, PHNIX, and Britto.

The growth of RLUSD and the performance of Ripple meme coins contributed to the utility of the Ripple network, which had faced criticism in the past for being a “ghost chain.”

Looking ahead, XRP could continue to rise as Donald Trump’s inauguration approaches. Crypto investors widely anticipate that Ripple will be among the biggest beneficiaries of the inauguration, which is expected to bring significant changes at the Securities Exchange Commission.

For instance, Polymarket users assigned a 58% chance that the agency will approve a spot XRP exchange-traded fund (ETF) in 2025.

XRP price analysis: XRP price remained bullish on the weekly chart, even as other cryptocurrencies declined.

The recovery began when the coin dropped to the psychological level of $2, which formed the lower boundary of a symmetrical triangle—part of a bullish pennant formation.

XRP also formed a break-and-retest pattern, dipping to a key support level of $1.9660, which was its previous all-time high.

This pattern was widely recognized as a bullish continuation signal. XRP remained above all major moving averages, indicating further bullish momentum.

The next crucial resistance level to watch was $2.9150, which could serve as the next target in the ongoing rally.