The currency of XRP is the XRP The last 24 hour performance of Ripple was outstripped by other major cryptocurrency assets, fueled by Monica Long’s optimistic outlook about the impending XRP exchange-traded funds and Brad Garlinghouse’s visit to Donald Trump.
Data from CoinGecko shows that the Ripple asset, a native token on the XRP Ledger and linked to Ripple’s XRP Ledger has gained 4% over the past day. Bitcoin and Ethereum have both lost less than 1%.
Long has argued that a portion of this price change can be attributed the continued speculation regarding XRP ETFs. “likely to be next in line after Bitcoin and Ethereum”—both of which saw U.S. spot ETFs approved for trading in 2024.
Talking with Bloomberg, Ripple’s President believes that an XRP exchange-traded fund (ETF) will become a reality “very soon.”
Garlinghouse previously expressed the same sentiments when he called approval an XRP ETF "inevitable” in October. To date firms like 21Shares and Bitwise have already filed for the launch of an XRP ETF, and optimism over potential approvals has been cited for XRP’s dramatic price surge late last year.
Garlinghouse also stoked flames of excitement around XRP on Tuesday, posting a photo from a dinner with Donald Trump and Ripple Chief Legal Officer Stuart Alderoty on X (formerly known as Twitter).
“Start strong in 2025” said Garlinghouse.
Great dinner last night with @realDonaldTrump & @s_alderoty.
Strong start to 2025! pic.twitter.com/UjM6lahUG4
— Brad Garlinghouse (@bgarlinghouse) January 8, 2025
Long cites Trump’s return and the incoming administration as two reasons for his optimism that XRP, and “various cryptocurrency spot ETF assets” will do well.” may see approval in 2025 in the United States.
XRP has made a significant charge in the last few months, reaching a price point not held since 2018 in the process of briefly becoming the third-largest coin by market capitalization.
In addition to gains in the native token, the XRP Ledger has seen increased activity, breaking records for all-time high account activations in December as its meme coin economy showed signs of life.
The token is currently trading at $2.32, more than four times its price prior to the U.S. elections in November. XRP reached as high as $2.82 in December before cooling off alongside other major assets like Bitcoin. The Ripple-linked coin currently trades 32% down from its all-time high of $3.40 from January 2018.
Andrew Hayward edited the book