Ripple’s XRP has taken center stage in the cryptocurrency market following the U.S. presidential elections, with its price surging from $0.60 to $2.50, the highest level since January 2018. The rally has been fueled by whale accumulation, the prospect of a stablecoin launch, and anticipated regulatory changes under the incoming administration.
Whale Accumulation Drives XRP Growth
In recent weeks, whales have aggressively accumulated XRP. According to Santiment, wallets holding 1M to 10M XRP have purchased over 679 million tokens (valued at $1.66 billion) in just three weeks, marking a 6-year high. Meanwhile, the number of non-empty XRP wallets surpassed 5.5 million, reflecting growing investor interest.
This whale activity has been partly driven by retail investors eager to secure profits, creating a favorable environment for large-scale accumulation. Such movements signal strong bullish momentum for XRP’s price trajectory.
XRP Stablecoin Launch Sparks Hype
Ripple has confirmed plans to launch a stablecoin pegged 1:1 to the US dollar, tentatively called RLUSD. The New York Department of Financial Services (NYDFS) is reportedly close to approving this product, with a potential release date as early as December 4.
The stablecoin’s debut could position Ripple as a significant player in the multi-billion-dollar stablecoin industry, driving further demand for XRP and bolstering its utility in cross-border payments.
Regulatory Changes Boost Investor Confidence
The shift in U.S. leadership has significantly bolstered optimism in the crypto market. Under the previous administration, Ripple and other crypto companies faced intense scrutiny from the SEC. However, President-elect Donald Trump’s pro-crypto promises, combined with the upcoming departure of Gary Gensler as SEC Chair, have created a more favorable outlook.
The regulatory shift has already drawn over $1.3 billion into crypto markets since the elections, with XRP benefiting significantly from the renewed confidence in U.S.-based crypto projects.
Ripple’s Continued Legal Battle
Ripple’s legal issues with the SEC, which have lasted four years, are expected to reach a turning point under the new administration. A more crypto-friendly regulatory environment could allow Ripple to resolve its legal troubles and expand its offerings, further boosting XRP’s market value.
