XRP gained 42% in the past week, after rallying close to 1% on Friday. The altcoin hit a new all-time high, with the 24-hour trade volume leaving Ethereum (ETH) to bite the dust on Thursday. The token could extend its streak in the coming days following President-elect Donald Trump’s inauguration. 

XRP could extend rally alongside Bitcoin 

XRP rallied over 40% in the past week. Bitcoin (BTC), the largest cryptocurrency recovered from its flashcrash under $90,000 and made a comeback above $104,000 on Friday. The native token of the XRPLedger is rallying alongside the top crypto. 

Trump’s upcoming inauguration is one of the leading catalysts, alongside optimism on crypto regulation, pro-crypto policy and a new approach by financial regulatory agencies in the U.S.

XRP could gain further, entering price discovery next week. 

XRP trades at $3.26 at the time of publication. 

On-chain indicators support gains 

XRP’s on-chain indicators support a bullish thesis for the altcoin. The total funding rate metric is positive, greater than one throughout January 2025. The count of active addresses recorded a large spike on Thursday, Jan. 16. 

The on-chain indicators on Santiment are conducive to further gains in XRP in the coming week.

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Author: Ekta Mourya