XRP is up by 120% over the last week. Also, it’s seen a “stark uptick” Kaiko analysts claim that volatility is on the rise.
The volume realized is at its highest level since July 2023. (In case you’re not familiar, this was when the ruling on institutional sales by the courts took place).
Here’s an interesting fact: XRP volumes over the past weekend have actually exceeded bitcoin.
“Seeing stronger volumes accompany a move higher in prices implies that the move has a broad base and is less likely to be just a fleeting change,” Analysts wrote.
For Kaiko, these data sets suggest that tokens that had previously been in the SEC’s line of fire could see some reprieve — and a potential jump — as the SEC enters into a new era. The market is confident that SEC will not be as hostile to the existence of crypto, even though it’s unclear who President-elect Donald Trump has chosen to head the new administration.
Eleanor Terrett from Fox thinks that a possible name could be announced as early as today.
Dragonfly’s Haseeb Qureshi, on the Empire podcast this morning, had an interesting read-through about the interest in XRP and how that translates into this broader cycle — because, surprise, I always like to find an excuse to zoom out. He believes that the interest in XRP is not just about memes.
“Most people don’t want to do this nihilistic thing of ‘I’m just betting that this thing is going to go up and down’ because they don’t actually think they’re gambling. They think that they are investing in the future,” Qureshi said.
Do not get me wrong. David and I both know that memes are popular, but Qureshi makes a good point: those who are either new to crypto, or have already been involved in it, have probably heard analysts, talking heads and even Trump say there is valuable technology here and this is why they came. Memes just happen to make it fun…for those who want to partake.
Qureshi is here along with WisdomTree’s Jason Guthrie, which, funnily enough, has filed for an XRP-ETF just yesterday.
Let the memes pump but don’t let them overshadow the fact that more concrete interest is on the rise — and change is on the horizon.
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