Key Takeaways
- XRP surged 10% to $2.3 on the first trading day of 2025.
- XRP dominated trading volumes over Bitcoin and Ethereum in South Korea.
Share this article
XRP has kicked off the new year with a strong performance, surging 10% in the last 24 hours and reclaiming the $2.3 mark last seen on December 26, according to CoinGecko data.
The rally comes at a time when most major crypto assets remain relatively flat. Bitcoin currently trades around $94,000 with minimal movement, while other leading crypto assets like Ethereum, Binance Coin, and Solana show little price action.
In contrast, established altcoins including Tokenize Xchange (TKX), Stellar (XLM), Fantom (FTM), and Algorand (ALGO) have posted double-digit gains in the past 24 hours. Some major crypto assets by market cap like Hedera (HBAR) and Cardano (ADA) have also seen significant increases.
The AI16Z token, which recently became the first AI coin on the Solana blockchain to achieve a $2 billion market cap, is extending its gains. Currently trading above $2, the token has risen 21% in the past 24 hours, placing it among the top daily gainers.
XRP trading volumes surge in South Korea
In South Korea, XRP trading volumes have surpassed both Bitcoin and Ethereum across the country’s major exchanges.
Combined trading volume against the won on Upbit, Bithumb, and Korbit exceeded $1 billion in the past 24 hours, with XRP recording $254 million on Bithumb and $761 million on Upbit.
High trading volume indicates greater market interest in the asset, suggesting that many investors are actively buying and selling.
Changes in trading volume can signal potential trend reversals or continuations. High trading volumes can also lead to increased volatility in the market, as large orders can impact prices.
The volume surge comes amid political developments in South Korea, where a court issued an arrest warrant for President Yoon Suk Yeol on Tuesday over his December martial law decision.
Trump’s inauguration, SEC Chair’s resignation in over two weeks
Trump’s inauguration as the 47th President of America is scheduled for January 20. Also on that day, SEC Chair Gary Gensler will step down.
Trump’s arrival and Gensler’s departure are expected to pave the way for a shift in regulatory approach to the crypto sector, which has long faced hostility under the current administration.
For the Ripple community, these events may bring an end to the year-long legal battle between Ripple and the US securities watchdog, potentially resulting in either a settlement or dismissal of the case. A resolution is anticipated to clarify XRP’s legal status and create a precedent for other crypto assets that have also been classified as securities by the SEC.
Moreover, as the regulatory landscape in the US matures, meaning more guidance and clarity, there is hope that one or more spot XRP ETFs, along with a wave of other crypto ETFs, will secure regulatory approval.
As of January 1, several fund managers—including Bitwise, Canary Capital, 21Shares, and WisdomTree—are lining up for approval to launch their respective XRP ETFs.
Any developments in either the XRP ETF’s progress or the SEC-Ripple case are expected to considerably influence XRP’s price movements.
Share this article