• XRP’s price surged to around $0.75, its highest level since March 2023
• The rally could be attributed to the cryptocurrency joining the broader market uptrend after Donald Trump’s election victory
• There are rumors that Ripple CEO Brad Garlinghouse met with Trump or his team to discuss crypto regulations, though unconfirmed
Ripple’s XRP cryptocurrency saw a significant price surge today, reaching highs not seen in 8 months. This comes after XRP had lagged behind other major cryptocurrencies during the rally sparked by Donald Trump‘s election victory last week.
XRP Jumps to $0.75
XRP climbed from under $0.60 to $0.741 on Bitstamp today. This is the highest price the cryptocurrency has reached since March this year.
The crypto community celebrated the rally on social media, with many who had been expecting the surge making even more bullish predictions for XRP’s future price.
Potential Reasons Behind the Surge
There are a few potential reasons behind XRP’s sudden and dramatic gains:
Late to the Party
One straightforward explanation is that XRP is just late in joining the rally initiated last week after Trump’s victory. While the likes of Bitcoin, Cardano, Dogecoin, and Shiba Inu saw massive gains, XRP was left behind until now.
Speculation on Ripple Meeting
Some speculate the surge is due to rumors that Ripple CEO Brad Garlinghouse recently met with Trump or his administration. The rumors indicate they discussed potential regulatory frameworks for cryptocurrencies.
While not officially confirmed, some cite Garlinghouse liking a tweet about the supposed meeting as evidence the rumors have validity.
Conclusion
Whatever the reasons behind it, XRP’s significant gains today have propelled it to prices not seen since early last year. The coming days and weeks will determine whether this rally has legs or fizzles out. But for now, the XRP community is enjoying the long-awaited surge.
