Following the publication of the XRP Markets Report on Ripple’s fourth quarter of 2024, the company’s CEO Brad Garlinghouse stressed that this period is one of the most important moments in XRP history. Garlinghouse, “the fourth quarter of 2024 has passed to XRP history,” he pointed out the growth of the XRP in this process. According to the Ripple report, the XRP price increased by 280 %for a quarter, while the lightening of regulatory pressures and the increase in institutional interest were among the main reasons for growth.
XRP increased by 280 %, corporate demand increased: Ripple Report
Ripple’s report said that XRP gained 280 %for a quarter and experienced a great recovery after years of regulatory barriers. Before the lawsuits filed by the US Securities and Stock Exchange Commission (SEC) in 2020, XRP was the second largest crypto asset. However, after the case, XRP was pushed out of the top five. Now, with the decrease in regulatory uncertainties, XRP has started to rise again with strong trading volumes and investor confidence. At the end of the quarter, the XRP was positioned as the third largest crypto asset in terms of market value and started to target the second place.
The report states that XRP’s spot transaction volumes have increased rapidly after the US presidential elections. At the beginning of the quarter, the transaction volume of $ 1 billion per day decreased to 500 million dollars in mid -November. However, after the elections, the average daily volume reached $ 5 billion and a record of 25 billion dollars on December 2 was broken. Binance was a leading position with a 36 %share, followed by 20 %upbit and Coinbase with 9 %. US -based Coinbase and Kraken stock exchanges have increased their market shares after the election.
New crypto policies in the US support XRP
According to the report, the rise observed in the XRP after the US Presidential elections is also linked to the positive attitude of the new administration to the crypto. After the victory of Donald Trump, the new administration’s SEC President Gary Gensler will dismiss and make a clearer arrangements for the crypto industry. As a matter of fact, after Trump sat in the presidency, he signed a presidential decree with crypto -friendly policies. This decree includes the creation of a working group focusing on crypto asset markets and providing crypto -friendly banking access. In addition, Mark Uyeda was appointed as the new president of SEC. Uyeda was among the names who criticized SEC’s crypto policies in the previous period.
What is the latest situation in the price?
In the fourth quarter, the price volatility of XRP was 40 %at the beginning of November, while the US elections exceeded 200 %after the US elections and decreased to 160 %at the end of the year. The price of XRP reached $ 2.70 in late November and gained more than 500 %value compared to per quarter. In the leading stock markets, the average daily transaction volume of XRP reached 3.4 billion dollars. The XRP/BTC ratio increased by 130 %and although Bitcoin reached $ 108,000, the highest level of all time, the XRP continued to gain value. XRP’s operations with US dollar and USD -backed stablecoins rose to 25 %in the third quarter, while 25 %in the fourth quarter. Most of the operations were carried out with USDT.
Although the XRP price tends to decline in the short term, market analysts can maintain the rise trend by maintaining critical support levels. The positive developments emphasized by Ripple CEO Brad Garlinghouse strengthened investors’ expectations of rise.
Dark Defender, one of the leading analysts, said that XRP targets $ 4 in the short term. According to the analyst, the XRP needs to maintain a $ 3.07 support level. In addition, other market experts also estimate that the XRP can reach $ 5 soon. In the light of these developments, XRP is expected to reach new peaks with the decrease in regulatory uncertainties, increased institutional interest and improvement of market conditions.
