XRP, the cryptocurrency created by Ripple co-founders, has gone through an impressive trading week, recording its strongest growth in months. The coin surged significantly, breaking above $1 and reaching nearly $1.29—marking an increase of about 30% compared with the end of the previous week, January 3, 2025.
This price surge began from a level that XRP had not reached since the rally following the November 2024 election. In the week ending on January 3, 2025, this token hit a low of $0.9862—the same area it was in before the post–November 2024 election rally pushed it to a near all-time high of around $3.65.
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Growth momentum from Bitcoin and fiscal policy
On-Chain Activity and the Boost from the Ripple Ecosystem
arising from Bitcoin and fiscal policy
XRP’s breakout momentum is supported by the synergy of multiple macroeconomic factors and developments across the entire crypto market. First, Bitcoin’s surge above the 71,800 USD – 72,000 USD range triggered a record liquidation of short positions worth up to 2.7 billion USD across the market, creating a chain reaction that pushes momentum into major coins.
Additionally, the positive message from the White House—after former President Donald Trump urged the U.S. Congress to speed up the passage of the CLARITY Act (Clarity Act)—has removed many psychological barriers. This builds strong confidence among investors in a transparent regulatory framework between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC).
XRP/USD chart (4H)
On-Chain Activity and the Boost from the Ripple Ecosystem
Besides short-term speculative factors, on-chain data shows that activity on the XRP Ledger (XRPL) network is undergoing a fundamental shift. The supply of the Ripple USD stablecoin (RLUSD) on XRPL has recorded growth of more than 1,100% year over year, expanding liquidity for the decentralized finance (DeFi) ecosystem and the tokenization of real-world assets (RWA).
The number of XRP payment transactions surpasses 1.7 million after XRP price enters an uptrend — TradingView News
In parallel, the number of XRP held in custody on exchanges has been continuously declining due to large-scale accumulation activity by whale wallets. If the price region above 1.15 USD and 1.22 USD is maintained successfully, XRP has strong technical grounds to continue moving toward higher target zones in the coming weeks.
Source: https://emacrypto.com/xrp-notches-best-week-since-2024-election-pump-on-bitcoin-short-squeeze/