As 2025 began, XRP rose 10% to $2.3.

By Crypto Gloom On Jan 1, 2025

Key Takeaways

XRP surged 10% to $2.3 on the first trading day of 2025.
XRP dominated trading volume over Bitcoin and Ethereum in South Korea.

According to CoinGecko data,

This rally comes at a time when most major cryptocurrency assets remain relatively stable. Bitcoin is currently trading around $94,000 with minimal movement, while other major cryptocurrency assets such as Ethereum, Binance Coin, and Solana are showing little price movement.

In contrast, established altcoins including Tokenize Xchange (TKX), Stellar (XLM), Fantom (FTM), and Algorand (ALGO) have recorded double-digit gains over the past 24 hours. Some major cryptocurrency assets by market capitalization, such as Hedera (HBAR) and Cardano (ADA), also increased significantly.

AI16Z token, the first AI coin to recently reach a market capitalization of $2 billion on the Solana blockchain, is increasing its rise. Currently trading above $2, the token is up 21% in the last 24 hours, marking its highest daily gain.

XRP trading volume surges in South Korea

In South Korea, XRP trading volume surpassed both Bitcoin and Ethereum across the country’s major exchanges.

Trading volume against the Korean Won on Upbit, Bithumb, and Korbit exceeded $1 billion in the past 24 hours, with XRP recording $254 million on Bithumb and $761 million on Upbit.

Higher trading volume means greater market interest in the asset, which suggests many investors are actively buying and selling.

Changes in volume can indicate a potential trend reversal or continuation. High trading volume can also increase volatility in the market as large orders can affect the price.

The surge in trading volume comes amid an evolving political situation in South Korea, with a court issuing an arrest warrant Tuesday over President Yoon Seok-yeol’s decision to impose martial law in December.

Trump takes office; SEC chairman resigns after two weeks

President Trump’s inauguration as the 47th President of the United States is scheduled for January 20. SEC Chairman Gary Gensler also resigned on this day.

Trump’s arrival and Gensler’s departure are expected to pave the way for a shift in regulatory approach to the cryptocurrency sector, which has long faced hostility under the current administration.

For the Ripple community, these events could end a year-long legal battle between Ripple and the U.S. securities watchdog, potentially leading to a settlement or dismissal of the case. The resolution is expected to clarify the legal status of XRP and set a precedent for other cryptocurrency assets classified by the SEC as securities.

Moreover, as the US regulatory environment matures, which means more guidance and clarity, there is hope that one more spot XRP ETF, along with other cryptocurrency ETFs, will secure regulatory approval.

As of January 1, several fund managers, including Bitwise, Canary Capital, 21Shares, and WisdomTree, are lined up to approve the launch of their respective XRP ETFs.

The progress of the XRP ETF or any developments in the SEC-Ripple case are expected to have a significant impact on the price movement of XRP.