Why XRP Price Skyrocketed After the U.S. Election: Report Explains
Vignesh S G22 May 20253 min read
A newly published report in the American Bankruptcy Law Journal by legal scholar Jessica G. McKinlay reveals a strong link between XRP’s explosive price surge and the recent political shift in the U.S., following Donald Trump’s victory over Kamala Harris in the 2024 presidential election.
Let’s break down the key insights from the report.
The report highlights that Trump’s crypto-friendly policy proposals played a significant role in XRP’s 443% rally between November 5 and December 2, 2024, when the price jumped from $0.50 to $2.72.
By mid-January 2025, XRP touched a 7-year high of $3.40, reflecting growing investor confidence after Trump’s promise to:
- Support innovation in the crypto sector
- Establish clearer regulations
- Reduce government interference in digital assets
In contrast, Kamala Harris’s stance was less defined, leading to market uncertainty before the election results.
Ripple’s Legal Battle Gets Boost After SEC Leadership Change
One of the most critical factors behind XRP’s rise, the report notes, is the replacement of SEC Chairman Gary Gensler with Paul S. Atkins, a move widely seen as favorable for the crypto industry.
Ripple’s long-running legal dispute with the SEC under Gensler had cast a shadow over XRP for years. The new leadership brought renewed hope for resolution and regulatory clarity, which triggered a bullish rally in the market.
Bitcoin & Ethereum Also Benefit from Political Shift
While XRP was the biggest gainer, Bitcoin and Ethereum also posted notable gains in November 2024:
- Bitcoin (BTC) rose 37.4%, eventually hitting the $100K milestone
- Ethereum (ETH) surged 47.4% during the same period
The report praises Ethereum’s transition to proof-of-stake for its reduced energy use, while also criticizing Bitcoin’s centralized mining practices and environmental impact.
XRP and the Trump Effect: A Turning Point for Crypto?
The report concludes that Trump’s regulatory stance, combined with the SEC reshuffle, created a favorable environment for XRP to thrive. With clearer policy directions and reduced legal risks, XRP attracted significant investor interest.As the U.S. regulatory landscape evolves, XRP’s performance may become a case study in how politics can reshape crypto markets.
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FAQs
- Various analysts offer diverse predictions for XRP’s price, with some forecasting $4 in the short term, $5 to $7 by mid-2025, and long-term targets ranging from $10 to $20 by 2030, or even $27 if certain technical patterns play out.
