XRP Surges to $3 Amid Speculation of Eased SEC Lawsuits Under Trump Administration

Ripple’s native cryptocurrency, XRP, experienced a significant price surge, reaching $3 for the first time since 2018, as the broader cryptocurrency market rallied during U.S. trading hours on Wednesday, Jan. 15. This increase represented a 16% jump in value, with the cryptocurrency’s market capitalization climbing to $171.5 billion, solidifying Ripple’s position as the third-largest digital asset by market capitalization.

XRP’s Market Performance and Rankings

According to data from crypto analytics platforms, XRP now trails only Bitcoin (BTC), with a market capitalization of $1.9 trillion, and Ethereum (ETH), with a market capitalization of $402 billion, in terms of market size.

Factors Contributing to XRP’s Price Surge

Aside from the broader market recovery following this week’s correction, news related to the incoming Trump administration may have contributed to the price surge. Reports suggest that the U.S. Securities and Exchange Commission (SEC) may temper litigation action against crypto businesses, with a potential focus on cases involving fraud.

“The U.S. Securities and Exchange Commission may direct new SEC leadership to reconsider lawsuits that do not involve fraud.”

If true, this could lead to a pause in court actions involving companies like Coinbase and Ripple, which were accused of selling unregistered securities rather than outright fraud. However, it remains unclear how the incoming SEC leadership will handle ongoing lawsuits, and the appointment of Paul Atkins as SEC chair is still subject to Senate approval.

Key Takeaways

  • Ripple’s native cryptocurrency, XRP, surged to $3 following reports of potential eased SEC lawsuits under the Trump administration.
  • The broader cryptocurrency market rallied, with XRP’s market capitalization reaching $171.5 billion.
  • The SEC may reconsider lawsuits that do not involve fraud, potentially impacting companies like Coinbase and Ripple.

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