XRP continued to surge into Monday, jumping to a price of $2.74—the highest mark seen since January 2018, and boosting the price by more than five times over the last 30 days.
The Ripple-linked cryptocurrency began rising after Donald Trump's election win last month, but really took off after Securities and Exchange Commission (SEC) Chair Gary Gensler announced that he will resign effective January 20, 2025.
Gensler has led the agency's charge against crypto firms offering allegedly unregistered securities, including Ripple Labs, whose founders created XRP. With Gensler on the way out, XRP backers believe that regulatory clarity is coming, and that it will open the door to spot XRP exchange-traded funds (ETFs) and other potential financial offerings.
At a current price of $2.74, XRP is now up 45% over the past 24 hours and 92% on the week, per data from CoinGecko, pushing its 30-day jump to 436%. XRP continues to set a new seven-year high price mark after first doing so on Saturday.
While all major cryptocurrencies have seen price gains in recent weeks, XRP is now vastly outpacing heavyweight coins like Bitcoin (BTC) and Dogecoin (DOGE). Bitcoin is up 40% over the last 30 days at a current price of $97,180, while Dogecoin has jumped 176% during the span at a current price of $0.43.