XRP’s Historic November Rally Fuels Optimism for 2025 Amid New Initiatives

In November 2024, XRP experienced a remarkable surge, largely driven by new developments and favorable political shifts.

The price spike followed an announcement from Georgios Vlachos, co-founder of the Axelar interoperability platform, who predicted that the RLUSD stablecoin would increase XRP demand in 2025. As RLUSD transactions, particularly in remittances, are expected to settle through the XRP Ledger, XRP holders stand to benefit from the network’s gas fees, with a small amount of XRP burned during each transaction.

The rally began after Donald Trump’s electoral win, which ignited a wave of optimism across the crypto sector, thanks to his pro-crypto stance and promises of a more favorable regulatory environment.

XRP surged alongside other digital assets, briefly reaching a seven-year high of $2.90. However, the Relative Strength Index (RSI) soon indicated overbought conditions, prompting a price pullback.

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XRP also reached another milestone in early December, surpassing Solana in market capitalization, making it the fourth-largest cryptocurrency.

Currently valued at approximately $138 billion, it is closing in on Tether’s market cap. XRP’s growth is further supported by developments such as WisdomTree’s filing for an XRP ETF, and the approval of Ripple’s RLUSD stablecoin by the New York Department of Financial Services (NYDFS).

This stablecoin, backed by fiat and short-term cash equivalents, is poised to enhance XRP’s role in global finance as it becomes increasingly integrated into the broader crypto ecosystem.

Alexander Stefanov