XRP updates three-year price record thanks to Donald Trump

The cryptocurrency XRP $1.04 Binance-Peg XRP -2.53% Market capitalization $0.34 billion VOL. 24 hours $65.17 million rose by 20% after Ripple CEO Brad Garlinghouse met with US President-elect Donald Trump. At the time of publication, the XRP price reached $ 1.17, and over the past week, the growth was 73%. The daily trading volume also increased by 4.3% to $ 11.9 billion, and the coin’s market capitalization exceeded $ 54.4 billion.

During an interview on FOX Business, host Liz Klayman asked Garlinghouse about the meeting with Trump. Although he avoided direct comments, this triggered a wave of rumors that pushed the XRP price up. Investors took this as a positive signal, anticipating the end of the long-running litigation between Ripple and the US Securities and Exchange Commission (SEC), which has been going on since 2020.

In August 2023, a judge ruled that XRP sales on the secondary market are not a security. However, the SEC continued to appeal this decision, which previously caused the cryptocurrency to fall below $ 0.52.

Garlinghouse is confident that Trump’s re-election will be a favorable factor for Ripple and XRP. Earlier, he stated that XRP has prospects to become one of the market leaders due to its use in payment systems.