TL;DR

• XRP lagged behind other assets despite a market rally tied to Trump’s win. However, some analysts remain hopeful for a breakout if it clears key price levels.
• Ripple’s CEO Brad Garlinghouse welcomed the Trump victory, calling for changes like replacing SEC Chair Gensler and clarifying Ethereum’s regulatory status.

XRP is Late for the Party… Again

The cryptocurrency market has been on a tear in the past several hours, caused by Donald Trump’s triumph in the US presidential elections. The Republican has presented himself as the right choice for those in favor of the asset class, promising to let bitcoin thrive and hinting at establishing a national BTC reserve. 

Earlier today, the price of the primary cryptocurrency tapped a new all-time high of over $75K, while currently, it trades at around $74,200 (CoinGecko’s data). Other top performers include Dogecoin (DOGE), Solana (SOL), Avalanche (AVAX), Sui (SUI), and Uniswap (UNI), all of which exploded by double digits. 

Ripple’s XRP is also in the green, albeit charting less substantial gains than most of its rivals. It currently trades at around $0.53, representing a mere 2.5% increase on a weekly basis. Those curious to find out why XRP might be trailing behind can check out our dedicated article here.