Ripple’s Q4 2024 report highlights a remarkable 280% surge in XRP’s price, marking a significant recovery. Trading volume hit record highs post-election, and institutional interest in XRP continues to rise, with major financial firms like WisdomTree, Bitwise, and 21Shares filing for spot XRP ETF approvals.

XRP Surges as Regulatory Pressure Eases

According to Ripple’s latest report, XRP experienced a 280% price increase in Q4 2024, rebounding from years of underperformance. Prior to the SEC lawsuit in 2020, XRP was the second-largest cryptocurrency by market cap. However, regulatory challenges caused it to slide down the rankings. By the end of 2024, with reduced regulatory pressure, XRP reclaimed its position as the third-largest cryptocurrency.

Following the U.S. presidential elections, XRP’s trading volume skyrocketed. At the beginning of the quarter, daily volume hovered around $1 billion, dropping to $500 million by mid-November. However, post-election, average daily volume surged to $5 billion, hitting a record $25 billion on December 2.

Among exchanges, Binance led with 36% of total spot trading volume, followed by Upbit (20%) and Coinbase (9%). Notably, U.S.-based exchanges like Coinbase and Kraken gained market share after the elections.

Institutional Investors Eye XRP ETFs

The report highlights growing institutional interest in XRP. Financial giants WisdomTree, Bitwise, Canary Capital, and 21Shares have filed for spot XRP ETFs with the SEC.

If approved, these ETFs could further legitimize XRP within traditional finance and boost long-term price performance.

Additionally, the U.S. election results played a role in XRP’s rally. Following Donald Trump’s victory, XRP began its uptrend on November 5. The new administration’s decision to remove SEC Chair Gary Gensler and introduce clearer crypto regulations provided a significant boost to market confidence.

Trump also signed an executive order ensuring regulatory clarity for crypto companies and formed a dedicated digital assets task force.

XRP Market Expansion and On-Chain Activity

Volatility spiked from 40% at the start of Q4 to over 200%, before stabilizing at 160% by year-end. By late November, XRP reached $2.70, reflecting a 500% surge. Meanwhile, Bitcoin hit record highs, pushing the XRP-Bitcoin trading ratio up 130%.

Activity on XRP Ledger (XRPL) remained strong. Automated Market Maker (AMM) transactions surged from $31.23 million in Q3 to $774.15 million in Q4. The total decentralized exchange (DEX) volume exceeded $1 billion.

New XRP wallets also saw significant growth, jumping from 140,000 in Q3 to 709,000 in Q4. The increased adoption of XRPL-based tokens and meme coins contributed to this rise.

Additionally, burned XRP tokens increased as network activity expanded. In Q3, 592,000 XRP were burned, while in Q4, the number reached 724,000 XRP.