XRP (XRPUSD), one of the leading cryptocurrencies by market capitalization, has been on a wild tear in recent months. This is mostly due to Ripple’s (the company behind XRP) legal headwinds turning into tailwinds. The Securities and Exchange Commission is now much more lax when it comes to cryptocurrencies. Plus, President Donald Trump and First Lady Melania Trump both have their own crypto tokens. Before the election, Trump vowed to promote cryptos.
Ripple’s legal wins and Trump’s reelection caused XRP to surge, and it is now up 508.8% from its 52-week low. The rally is warranted, since the administration’s attitude toward crypto gives it a window of a few years where it can aggressively expand and become an established part of the global banking system.
