XRP news today: Ripple's XRP Surges 314% Post-Trump Election, Eyes Further Gains

Ripple (XRP) has emerged as a standout performer in the crypto market since the election win of former U.S. President Donald Trump, with its value surging by 314% since early November, despite a 36% pullback from January’s highs. Unlike many tokens that soar on hype alone, Ripple offers real-world utility, particularly in cross-border payments.

XRP is the native digital asset of the XRP Ledger, a blockchain developed by Ripple to streamline and reduce the cost of cross-border payments and currency exchanges. Traditional international transactions often rely on the SWIFT network, which involves intermediaries, leading to higher costs and longer transaction times. Ripple’s payments platform, leveraging XRP and the Ripple USD stablecoin, completes international transfers and currency exchanges within seconds, usually at a significantly lower cost than conventional systems.

Investor Trevor Jennewine highlights that while Ripple’s network currently has under 200 institutional users, this number could grow as banks and fintech companies become more familiar with blockchain technology. This trend is already evident, with both retail and institutional investors becoming increasingly comfortable with digital assets, particularly well-known ones like XRP.

XRP is poised for further growth. Although cryptocurrency exchanges often create barriers for users, requiring separate accounts and charging high fees, several asset managers have requested SEC approval to launch spot XRP ETFs. These ETFs would trade on traditional stock exchanges, allowing investors to access XRP through standard brokerage accounts, potentially making adoption easier and attracting more investors. The approval of spot Bitcoin ETFs in January 2024 led to a more than doubling of Bitcoin’s price, suggesting that XRP could generate similar returns if spot XRP ETFs are approved. This approval seems likely given the cryptocurrency-friendly stance of the newly appointed SEC chairman, Paul Atkins.

Looking ahead, if XRP sees broader adoption by banks and payment providers, along with growing interest from both retail and institutional investors, Jennewine predicts that XRP could hit $7.50 by early 2035. This suggests a total return of almost 260% (over 13.5% annually), outpacing the broader crypto market. However, Jennewine cautions that achieving this growth will involve a rocky ride, with steep declines along the way. Investors should be prepared to hold through volatility.