According to Ripple's reports for the fourth quarter of 2024, XRP experienced a significant 280% spike in value. This surge was primarily driven by major events including Trump's election win and a shift in Federal Reserve policies.
Global Events and Market Impact
At the beginning of Q4, XRP was trading at $0.71 and climbed to $2.70 by December 30, marking a 500% increase. This price movement was influenced by political stability following Donald Trump's election victory and new financial opportunities involving cryptocurrencies.
Institutional Investments and Rising Interest
Major financial players such as WisdomTree, Coinshares, and Bitwise applied for XRP-based exchange-traded funds, indicating increased institutional interest. Trading volumes surged notably on platforms like Binance and Upbit Korea, accounting for 36% and 20% of all XRP trades, respectively.
Long-term Prospects for XRP
Despite a slight decline from December highs, XRP remains in a strong position. The growing institutional interest, improved regulatory clarity, and overall positive trends in the crypto market set the stage for further growth in 2025.
In conclusion, XRP demonstrated remarkable performance in Q4 2024, and is likely to maintain its growth momentum as the regulatory environment improves and interest from major financial players continues to grow.
