Bitcoin may be leading the charge across the crypto industry since Donald Trump won the U.S. presidential election this month, but XRP—the Ripple-linked asset—is seeing much larger gains of late. And on Saturday, it reached a price not seen in nearly seven years.

XRP jumped to a recent high of $1.93 on Saturday, topping the 2021 peak of $1.92. The last time that XRP was worth $1.93 was back in January 2018, according to data from CoinGecko, just after setting its all-time high mark of $3.40. That was almost seven years ago.

Now trading for $1.89, XRP has surged by nearly 30% over the last week, pushing its 30-day gain to 274%.

What’s driving renewed interest in XRP? It’s undoubtedly the prospect of a crypto-friendly Trump administration, which has benefited crypto broadly in recent weeks—and particularly, the prospect of Securities and Exchange Commission (SEC) Chair Gary Gensler being out of a job come January.

Under Gensler, the SEC has aggressively targeted crypto firms in the United States, particularly Ripple Labs, whose founders created XRP and use the digital asset for money-transmitting services. The two sides have traded blows for years, with both claimin

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Author: Andrew Hayward