Ripple’s Q4 2024 XRP Markets report marked one of the most significant periods in XRP’s history, with CEO Brad Garlinghouse describing the quarter as “absolutely one for the XRP history books.” XRP’s price surged by an impressive 280%, highlighting a dramatic recovery from years of regulatory setbacks. The report also emphasized easing regulatory pressure, rising institutional interest, and a shifting U.S. regulatory environment.
Suffice it to say – Q4 2024 was absolutely one for the XRP history books.
— Brad Garlinghouse (@bgarlinghouse) January 31, 2025
5 different firms filed for XRP-related ETPs in the US (plus 4 more this month ); $RLUSD launched, hitting a $100M market cap within a month; and on-chain XRPL DEX trading volume reached $1B in Q4!
More… https://t.co/X3m9Q1GHjH
XRP’s remarkable 280% surge was fueled by growing confidence in the cryptocurrency, following the easing of regulatory challenges. Prior to the SEC’s lawsuit in 2020, XRP had been a strong contender for the second spot in the crypto rankings. The lawsuit pushed XRP’s value down, but with the regulatory environment improving, XRP has regained its strength, closing Q4 as the third-largest cryptocurrency and positioning itself to challenge for the second spot once again.
The report also noted a significant increase in spot trading volumes for XRP, particularly after the U.S. presidential election. Daily trading volumes in early Q4 averaged $1 billion but surged to $5 billion per day post-election, with a record $25 billion traded on December 2. Binance, Upbit, and Coinbase were the leading exchanges, with U.S. platforms like Coinbase and Kraken gaining market share.
Institutional interest in XRP continued to rise, with major financial firms filing applications for XRP-based exchange-traded funds (ETFs), including WisdomTree, Bitwise, and 21Shares. These developments underscored XRP’s growing institutional adoption and mainstream appeal.
The U.S. elections played a key role in XRP’s Q4 rally, with the election of Donald Trump promising clearer regulations for the crypto industry. Trump’s administration moved quickly to address crypto policies, firing anti-crypto SEC Chair Gary Gensler and promoting fair access to banking for crypto businesses. Leadership changes at the SEC also brought new perspectives, fueling optimism for crypto markets.
XRP’s on-chain metrics further supported its growth. Despite a slight decline in total transactions, automated market maker (AMM) swaps skyrocketed, and total decentralized exchange (DEX) volume surpassed $1 billion. New wallet creations also spiked, contributing to XRP’s continued rise.
As Q4 2024 comes to a close, XRP’s resurgence marks a turning point, with the cryptocurrency poised to challenge new heights as regulatory clarity and institutional interest continue to rise.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.