XRP Rides To Near All-Time High as Trump Family Enters the Cryptocurrency Arena

In the wake of the US presidential elections, XRP’s engine began to rev. Now, with the inauguration of President Trump only hours away, XRP is taking off!

As the clock ticks down to President Trump's inauguration, the cryptocurrency markets are witnessing a remarkable surge, led by XRP. The digital asset soared to a near all-time high on Friday, peaking at $3.31 and notching a 6.35% gain over the past 24 hours.

Optimism Surrounds XRP Price Rally

A wave of optimism has been building around XRP, largely driven by the increasing buzz over the potential approval of XRP-based Exchange-Traded Funds (ETFs) and favorable developments in Ripple's long-standing legal battle with the U.S. Securities and Exchange Commission (SEC).

The SEC filed a lawsuit against Ripple in 2020, alleging that the company conducted unregistered securities offerings. But recent rulings have been positive for Ripple, with a judge imposing a $125M fine—a far cry from the SEC's initial demand of $2B.

As expected, the SEC filed an appeal over the ruling. But with soon-to-be President Trump known for his pro-crypto stance, many investors expect the likelihood of the SEC winning any substantial reversal to be minimal.

Meanwhile, Ripple's leadership has expressed confidence in the possibility of XRP ETFs following in the footsteps of Bitcoin and Ethereum ETFs.

CEO Met With Trump; Anticipation Builds for Pro-Crypto Environment

CEO Brad Garlinghouse recently met with President-elect Donald Trump, further fueling speculation about regulatory changes and an environment turning notably pro-crypto.

The nomination of Paul Atkins as the new SEC Chair – a decidedly pro-crypto voice – is also anticipated to pave the way for more cryptocurrency ETFs.

Highlighting Trump's Pro-Crypto Stance

Fresh off his victory speech at the Lincoln Memorial, President-elect Donald Trump unveiled a slew of executive orders, setting the stage for his first days in office.

Among the orders is a directive to establish a national crypto reserve for the United States, reflecting his administration's focus on digital assets and emerging technologies.

Trump's Family Members Launch Meme Coins

In a surprising move just three days before his inauguration, President-elect Donald Trump announced the launch of a meme coin, $TRUMP, on the Solana blockchain. The coin's market cap quickly soared to over $9B following its unexpected release.

First Lady-elect Melania Trump then launched her own meme coin, $MELANIA, which also garnered significant attention, stealing $TRUMP's show and raising a 12B market cap in under 3 hours, before petering off.

Those interested in joining the meme-coin mania can purchase either $TRUMP or $MELANIA on decentralized exchanges such as Raydium and Orca.

Keep in mind that the cryptocurrency market is highly volatile, and such meme coins come with a substantial risk. As always, conduct your own research and never invest more than you can afford to lose.