It’s time to talk about XRP once again! In a previous article, I’ve talked about the history of XRP, the company Ripple, who’s behind it and how it is going to be used in the world to help facilitate cross-border payments all over the world in mere seconds. I’ve talked a lot about the potential of XRP and how it could be one of the best crypto’s in the entire world and maybe even surpassing Bitcoin someday, but that it is being suppressed and been the target of the SEC since 2020 with a lawsuit issued against Ripple stating that XRP is a security.
Well folks, things have RAPIDLY changed and we look to be entering a golden era in the cryptocurrency world which has already benefited XRP and Ripple. Join me as I talk about the current price of XRP, how the change in the US Presidency will change cryptocurrency in the United States for the better, how the SEC is being defanged in its war against crypto, why people are getting excited about XRP again, and what the future could hold for XRP.
What is the current price of XRP?
Now that I’ve gotten you excited about XRP and why this is a pivitol moment for it, you’re probably wondering what the current price is for the token. As of early Wednesday morning (Nov. 27th), the price is $1.44. You might be thinking that’s not very high considering how much Bitcoin is (nearly $100,000). There’s nowhere near as much Bitcoin as there are of XRP. There’s around 100 billion XRP in existance with about half of that in circulating supply right now.
I will tell you though that a mere couple of weeks ago, XRP’s price was in the 50 to 60 cent range and had been in that area for a long time. It has not been to the $1.00 range since at least 2021. The fact that it rapidly increased and went over a dollar is telling. I do have a nice little chunk of XRP that I have accumulated over the years and have actually held some XRP since 2017 which was around the time of its all time high of $3.87.
Because of its recent rise in price, I’ve made a decent little profit from it, but do not have any plans to cash out any of my XRP anytime soon right now. First of all, I certainly want to see it get back to and surpass its previous all time high which I honestly believe it can do in the coming weeks and months. Second of all, with its planned adoption and use of cross-border payments, it has to be worth much more in order to facilitate that, especially moving large amounts of money. It wouldn’t make sense for XRP to be worth 50 cents or a $1.00 to move large amounts of money anywhere in the world in mere seconds. XRP was designed to be worth at least $10,000.
So you might be wondering, what has suddenly caused the shift in XRP to suddenly start moving quickly into a higher price point? It all started earlier in November with a certain election in the United States. Donald Trump has been elected President of the United States once again and I’m going to talk about why that matters for XRP and the rest of the crypto world.
The Winds of Change in the US Presidency
As I had mentioned above, Donald Trump won the presidential election in the United States. What does that have to do with the crypto industry as a whole? Quite a bit actually. President Trump has mentioned that he is now VERY pro crypto and wants to make the United States the crypto hub of the world. He has very ambitious plans to make that happen and he wants to create a US Strategic reserve of cryptocurrency starting with Bitcoin. He is also angry (as are a lot of other people) at how the SEC and its chairmen, Gary Gensler, has basically declared war against crypto by launching many lawsuits against crypto firms in the United States. The most well known one is the lawsuit against Ripple that started back in 2020.
The good news is that President Trump is tired of the SEC’s and Gary Gensler’s war against crypto, especially US crypto firms and has plans to end it or move regulation of cryptocurrency in the US, away from the SEC. He has said that he intends to fire Gary Gensler the first day he takes office, but there is good news regarding that. Gary Gensler has officially said (via his X account) that he intends to resign as head of the SEC, the day that President Trump officially takes office. Just these revelations alone has caused the cryptocurrency market to skyrocket, especially XRP.
Once January of 2025 comes around, we should see cryptocurreny really boom in ways we have never seen before. With such a very pro crypto President in office as well as very pro crypto administration AND more than likely a new pro crypto head of the SEC taking charge, things look VERY bright for the crypto industry, especially in the United States. Another thing President Trump wants to do is make the US the crypto hub of the world and one of the things he wants to do to make that happen is eliminate capital gains taxes for cryptocurrency firms based in the US. What does this mean for us crypto investors? It means we’ll more than likely not have to pay taxes (or capital gains taxes) for crypto we’ve invested in that are based in the US. Which crypto company is based in the US? Ripple! That means XRP would be one of the ones with no capital gains taxes.
Do you see already how the incoming President has already started to change the course for the cryptocurrency industry? He hasn’t even taken office yet and we’ve already seen a number of crypto’s take off. Bitcoin is even hovering near the $100,000 mark. We will see what happens once he takes office on January 20th and beyond.
The SEC is Starting to Change Course
So much is happening within the SEC that it’s almost tough to keep up with the major changes happening. As I mentioned earlier, Gary Gensler is officially resigning on January 20th. There is much speculation on what happens after that, but a lot of people believe that the SEC will want to stop most of the lawsuits it has issued against crypto firms in the US.
The SEC’s lawsuit against Ripple has taken many turns, though most of them have been in Ripple’s favor. It was ruled that XRP is not a security when sold on secondary markets such as crypto exchanges. The SEC did not like that outcome, however, the judge in that lawsuit also stated that sales of XRP directly to Institutions, did violate securities law and so ordered Ripple to halt those type of sales as well as pay a fine. The SEC wanted Ripple to pay a whopping $2 billion dollar fine, but the judge disagreed and set it a little over $120 million dollars which Ripple did agree to pay.
Unfortunately, the SEC did not feel that was enough and has since appealed to the US District Court of Appeals, prolonging this lawsuit yet again. I also think that the assumption was, especially for Gary Gensler, that Kamala Harris was going to end up winning the presidential election and relatively keep the current SEC policies intact. It was even rumoured that Gary Gensler might even become the US Treasurery Secratary under the Kamla administration.
Thankfully, that reality has not come to pass. We all now know the outcome of the US Presidential Election and with Trump being very pro crypto and Gary Gensler officially stepping down as well as another board member who is also very anti-crypto, the SEC is now finally starting to change course on the crypto industry and whoever becomes the next chair, it’s widely believed that they will end the current appeal of the Ripple lawsuit as well as other lawsuits such as against Coinbase and Binance. Because of this, 2025 is shaping up to be quite possibly the beginnings of the largest bull run in crypto history.
People are Getting Excited About XRP Again
With all of the things I’ve mentioned above, the retail sector is getting very excited about cryptocurrency again and are starting to pour money back in, but this is not what is fully going to propel XRP and other cryptos into the stratosphere. The really BIG money that is going to propel XRP to new heights such as figures in the hundreds and thousands of dollars, is institutional money.
When I say institutional money, I’m talking about major financial firms such as banks and investment firms. JPMorgan Chase, Bank of America, Black Rock, Fidelity Investments, etc. These institutions hold MANY billions of dollars and even up to trillions in assests and this is exactly who Ripple is going after.
Once crypto regulation takes hold, (hopefully in 2025) and the SEC fully ends its reign of terror against the cryptocurrency industry, we’re going to see institutional money POUR into crypto like never before. Many cryptos will become very valuable because of this and many who hold crypto will definitely become wealthy.
The realization that this can finally all be moving into that direction has many crypto enthusiasts happy again and willing to put their money back into crypto after what seemingly has been a very long crypto winter so to speak. XRP promises to be one of the biggest cryptos ever to benefit from this considering Ripple has the most partnerships with some of the largest financial firms and even governments than any other crypto in the world.
The Future of XRP is Very Bright
All the things that I’ve talked about above point to an extremely bright future for XRP. The next 5 years definitely need to be watched as I truly do believe that we’re going to FINALLY see Ripple’s vision for cross-border payments as well as tokenization of worldwide assests (along with the other crypto of XLM that focuses on tokenization too) begin to materialize in a big way.
The fact that XRP has already popped to over $1.00 now and pretty quickly because of what’s likely coming, shows people are beginning to see the benefits of XRP once again. I’ve been a holder of XRP since 2017 and continue to hold to this day with a lot having been accumulated. I know my wait and accumulating efforts will definitely pay off in the future.
You can get XRP now at exchanges that once removed XRP because of the SEC’s lawsuit. Coinbase, Robinhood, and a few others have finally relisted XRP because they know what’s about to change and they want to be at the forefront of it. We are in for some exciting times during the next few years. There will be some pullbacks, because that’s inevitable in a lot of investible asset classes, but the forward momentum that picks up promises to be much greater than the pullbacks.