XRP Rebounds From the Depths of the Bear Market, Records 280% Surge During Q4 2024

According to Ripple's Q4 2024 report, XRP has rebounded from the depths of the bear market and recorded a 280% surge during Q4 and a

output: XRP Rebounded 280% in Q4, Reclaiming Top 3 Spot Among Cryptos

input: XRP price recorded a massive surge in Q4 2024, surging by 280% and boosting it back to the third position among the top cryptocurrencies by market cap. This marks a significant recovery for XRP, which had fallen out of the top five and faced several years of stagnant price action following its 2021 all-time high.

According to Ripple’s Q4 report, XRP Ledger (XRPL) DEX trading volume reached US$1B (AU$1.56B) during the quarter. This strong performance contributed to XRP once again ranking third among the top cryptocurrencies by market cap, surpassing Solana (SOL) and Binance Coin (BNB).

As a result of this impressive recovery, XRP is now trading at US$2.28 (AU$3.72), down 22.5% from yesterday’s price. This price crash is part of a broader market downturn that saw most crypto assets, including Bitcoin (BTC), trading lower, with BTC currently valued at US$95K (AU$154K), according to data from CoinMarketCap.

Despite being affected by regulatory pressures from the US Securities and Exchange Commission (SEC), the XRP community remained strong throughout this period. Ripple has accused the SEC of contributing to years of market manipulation by pursuing a lawsuit against the company.

The crypto community points to the 2024 US presidential election as a key factor in XRP’s resurgence, as President Donald Trump has called for greater regulatory clarity and fairness in the crypto industry, which provided a favourable environment for XRP's growth.

This shift paved the way for the launch of the Ripple USD (RLUSD) stablecoin and spurred a wave of XRP exchange-traded fund (ETF) filings from major financial players, including WisdomTree, CoinShares, Bitwise, Canary Capital and 21Shares.

XRP is known for its strong international momentum, but the regulatory standing of Hong Kong’s Securities and Futures Commission (SFC) is unclear.

Hong Kong’s licensed exchanges operate under strict regulatory guidelines, with a strong emphasis on anti-money laundering (AML) and counter-terrorist financing (CTF) compliance. Currently, 10 crypto exchanges have successfully registered under these regulations, allowing them to legally operate a very specific set of virtual asset trading platforms in the region.

However, XRP is not among the permitted assets, and it is unclear what this omission signifies long-term. Some speculate that Ripple’s ongoing legal troubles with the SEC may be influencing the SFC's cautious approach, but the regulator has not provided an official explanation for XRP’s omission.