XRP (Ripple) Makes a Historic Resurgence as Donald Trump Wins the 2024 Election

Ripple Labs is easily one of the most popular cryptocurrencies of recent times. Since the start of November, the fast ascension of its currency XRP

Ripple Labs, the company behind the fourth-largest cryptocurrency by market capitalization, XRP, has seen its digital asset perform poorly over the last few years. However, with recent news of Donald Trump winning the presidency, XRP has seen massive gains, reaching prices it hasn't hit since 2018.

After being hit with a lawsuit from the SEC in 2020, claiming that the company was performing unregistered offers and sales of securities, XRP saw a rapid decline in its value. The digital asset hit its lowest point during this time, trading at around thirty cents.

Investors began to panic sell their XRP holdings en masse as the SEC lawsuit continued to put pressure on the digital asset's price, causing it to trade in a downward trend for the following years. Many began to lose hope in XRP, believing it to be on its way to becoming a ‘dead coin.'

Throughout 2023, XRP saw short moments of bullish momentum, but for the most part, the currency continued trading down. However, small gains began to appear in June of 2023, with news indicating that the SEC could lose its lawsuit against Ripple.

As 2024 began, the same scenario continued, with constant negative pressure on the media and recurrent legal jabs from the commission. However, Donald Trump's victory on November 5th has completely reshaped this scenario, and XRP has become one of the market's biggest earners since.

The logic behind this massively positive investor sentiment towards the coin is that the new Republican President is likely to replace the SEC command. And given his heavy pro-crypto stance of recent years, Trump will more than likely appoint someone who favors digital assets.

This has led XRP to more than double its value, and it is currently trading at the historic milestone of $1.80. Currently, the coin trades at its second-highest-ever price, only behind the short 2018 boom.

Investors who held on to their XRP tokens since the first SEC lawsuit against Ripple dropped in December of 2020 have made over 736% yields since then.

Undoubtedly, XRP’s resurgence marks a significant turn of events, highlighting how the currency could be trading ‘undervalued’ throughout all these years.