Key takeaways
- XRP jumped 10% to $2.3 on the first trading day of 2025.
- XRP dominated Bitcoin and Ethereum trading volumes in South Korea.
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XRP kicked off the new year with a strong performance, rising 10% in the past 24 hours and reclaiming the $2.3 mark last seen on Dec. 26, according to CoinGecko data.
The rally comes at a time when most major crypto assets remain relatively stable. Bitcoin is currently trading around $94,000 with minimal movement, while other top crypto assets like Ethereum, Binance Coin, and Solana show little price action.
In contrast, established altcoins including Tokenize Xchange (TKX), Stellar (XLM), Fantom (FTM), and Algorand (ALGO) have seen double-digit gains over the past 24 hours. Some major crypto assets by market cap like Hedera (HBAR) and Cardano (ADA) have also seen significant increases.
The AI16Z token, which recently became the first AI token on the Solana blockchain to reach a market cap of $2 billion, is extending its gains. Currently trading above $2, the token is up 21% in the past 24 hours, placing it among the top daily gainers.
XRP trading volumes increase in South Korea
In South Korea, XRP trading volumes have surpassed Bitcoin and Ethereum on the country’s major exchanges.
The combined trading volume against the won on Upbit, Bithumb and Korbit exceeded $1 billion in the last 24 hours, with XRP recording $254 million on Bithumb and $761 million on Upbit.
High trading volume indicates greater market interest in the asset, suggesting that many investors are actively buying and selling.
Changes in trading volume can signal potential trend reversals or continuations. High trading volumes can also lead to increased market volatility as large orders can impact prices.
The increase in volumes comes amid political developments in South Korea, where a court on Tuesday issued an arrest warrant for President Yoon Suk Yeol following his martial law decision in December.
Trump’s inauguration and SEC chairman’s resignation more than two weeks away
Trump’s inauguration as the 47th president of the United States is scheduled for January 20. Also on that day, SEC Chairman Gary Gensler will resign.
Trump’s arrival and Gensler’s departure are expected to pave the way for a change in regulatory approach to the crypto sector, which has long faced hostility under the current administration.
For the Ripple community, these events could end a year-long legal battle between Ripple and the US securities watchdog, which could eventually result in a settlement or dismissal of the case. A resolution is expected to clarify the legal status of XRP and set a precedent for other crypto assets that have also been classified as securities by the SEC.
Additionally, as the regulatory landscape in the United States evolves, meaning more guidance and clarity, it is hoped that one or more spot XRP ETFs, along with a wave of other crypto ETFs, will get regulatory approval.
Since January 1, several fund managers, including Bitwise, Canary Capital, 21Shares, and WisdomTree, have been lining up for approval to launch their respective XRP ETFs.
Any developments in the progress of the XRP ETF or the SEC-Ripple affair are expected to significantly influence the price movements of XRP.
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