The demand for Ripple’s XRP saw a skyrocketing surge in the last quarter of 2024. According to Ripple’s official report, once the second most valued digital asset, XRP recovered as the regulatory burden lessened after years of SEC market manipulation, rising by 280% in Q4.
Brad Garlinghouse too to X saying “Suffice it to say – Q4 2024 was absolutely one for the XRP history books.”
XRP’s Skyrocketing Surge in Q4 2024
XRP experienced a 280% in Q4 2024 price surge as regulatory uncertainty surrounding its legal status with the US SEC began to fade. With the resolution of some legal challenges, investor confidence grew, driving increased demand. This resulted in a significant price movement, as market participants regained optimism about XRP’s future.
Additionally, by urging regulatory clarity through comprehensive legislation and equitable banking access for legitimate crypto firms, President Trump’s executive order signaled a significant change and opened the door for innovation and phenomenal growth in the United States.
Also Read: Polymarket Bets On XRP ETF Approval In 2025 With 82% Probability Amid Grayscale Filing For XRP ETF
XRP ETFs Create Optimism Around the Token
Brad Garlinghouse stated “different firms filed for XRP-related ETPs in the US (plus 4 more this month ); $RLUSD launched, hitting a $100M market cap within a month; and on-chain XRPL DEX trading volume reached $1B in Q4”
These steps likely helped XRP regain the investor confidence that it might have lost due to constant battle with regulators.
WisdomTree and Coinshares joined Bitwise, Canary Capital, and 21 Shares in filing an S-1 for a spot XRP ETF, demonstrating that the demand for XRP products is still on the rise.
Significant demand on key exchanges propelled XRP’s surge, with Binance leading the pack (36% of spot volume), followed by Upbit Korea (20%) and Coinbase (9%).
After Trump won the election, spot trade volumes increased dramatically on all exchanges, averaging $5 billion per day from mid-November to December, up from $500 million the month before.
On December 2, around $25 billion in spot volume was traded across CCData’s Top Tier exchanges, setting a new record. A noteworthy example of the U.S. enthusiasm and demand for cryptocurrency is Coinbase, which increased its share of the entire XRP trading volume.
Why is XRP Gaining Investor Popularity?
Because of its low fees and quick transaction speeds, XRP has become a very popular option for cross-border payments. With the support of Ripple Labs, XRP seeks to enhance international financial systems by facilitating safe, immediate cross-border transactions. Its increasing prominence in the cryptocurrency market is a result of financial institutions’ broad adoption of it as well as its ability to lower the cost of international remittances.