XRP Surges to All-time High Market Capitalization of $192 Billion

Ripple’s XRP token continues its spectacular run, surging nearly 600% in value since Donald Trump’s election victory on Nov. 4, 2024.

On Jan. 16, it rose to a new all-time high market cap of $192 billion after crossing the $160 billion threshold for the first time on Jan. 14.

According to data from the crypto market intelligence platform Santiment, one key driver of the growth is large investors' rapid accumulation of XRP. Since Nov. 12, 2024, wallets holding 1 million to 10 million XRP have added approximately $3.8 billion. These wallets now own over 37% more tokens than they did two months ago.

Another likely factor driving XRP's growth is the resignation of SEC chair Gary Gensler.

Gensler will step down on Jan. 20, and the agency’s new leadership under Paul Atkins, who is more crypto-friendly, could mean a favorable outcome for XRP in its legal battle with the agency.

“XRP is the leading token in the PayFi sector and has a high level of global market recognition. Payments are one of the most mature foundational applications in the crypto space, with numerous real-world use cases already in place,” May Wang, founder of crypto research platform Sosovalue, told The Defiant.

“The market has long expected that, after Trump’s election victory, one of the earliest policies friendly to the crypto industry will likely include support for crypto payments. This is the most direct and clear area that stands to benefit from regulatory support,” she added.