XRP’s price has soared as high as 600% since the end of 2024. At the moment, XRP is experiencing intense selling pressure as investors rotate capital away from cryptocurrency. While XRP has clear utility, it’s not entirely known how large the token’s presence is in the fintech landscape. In late 2024, an altcoin called XRP(CRYPTO: XRP) started to experience unprecedented buying activity.
The cryptocurrency has been around since 2013, which is an eon in this sector. Besides, the token’s surge from $0.50 to $2.00 during the final months of 2024 was fueled by legitimate catalysts. Let’s take a look behind XRP’s meteoric rise toward the end of 2024 and its subsequent fall over the last six months.
From there, I’ll outline some key points investors should consider before buying XRP. Between November 2024 and the end of July 2025, XRP soared as much as 600% — reaching a price of $3 for the first time in seven years. Two main tailwinds fueled XRP’s ascent, both of which involved Washington, D.C. During his time campaigning, then-candidate Donald Trump frequently spoke about his affinity for cryptocurrency and promised to usher in a new wave of pro-crypto legislation if elected.
Following his election victory in early November 2024, money began pouring into XRP specifically. Last summer, the SEC dropped its appeal against Ripple — hence investors poured into XRP (again) and sent its price rocketing even further. Ripple operates a payments network that offers financial institutions a faster, lower-cost way to send funds across borders. Banks can denominate their transactions in XRP instead of fiat to avoid hefty foreign exchange fees.
Despite its utility, there is a glaring problem with XRP’s gains. In both instances — Trump’s election win and the SEC victory — investors bought XRP on the premise that these things would actually help the token’s adoption rate. But has that actually come to fruition? To be honest, I don’t actually know the answer to that. The reason is simple.
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