XRP recently reached an all-time high of 3.40 USD on the Bitstamp exchange. This marks its highest price since 2018, with a market cap of 185 billion USD positioning it as the third-largest cryptocurrency.
Despite experiencing 32.5 million USD in liquidations, long positions surged, accounting for 84% of these losses. Nonetheless, XRP remains up 26% for the week and 450.5% for the year.
The Trump administration’s anticipated support for cryptocurrency initiatives may influence Ripple’s ongoing SEC case. Ripple’s CEO and legal officer met with Trump, suggesting potential political backing in light of new SEC nominations.