XRP approaches all-time high with 13% daily gain

XRP (CRYPTO:XRP), the cryptocurrency associated with Ripple, has emerged as a leader in the current altcoin revival, gaining over 13% on January 15, 2025.

This surge has propelled XRP to an intraday high of $2.87 during Asian trading hours, bringing it within 17% of its all-time high.

In the past two weeks alone, XRP has increased by approximately 33%, contrasting with the overall decline in other altcoins.

According to Santiment, this price movement is bolstered by significant accumulation from large investors, or "whales," who have increased their holdings of XRP by over 37% in the last two months.

This accumulation translates to about $3.8 billion in XRP acquired since November 12, indicating a strong bullish sentiment among these investors.

Optimism surrounding XRP's potential applications in banking and finance is also growing, with predictions of substantial price increases and market cap growth.

The current market capitalisation of XRP stands at $160 billion, positioning it third among cryptocurrencies, trailing only Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH).

However, Ripple continues to face challenges from the U.S. Securities and Exchange Commission (SEC), which has not postponed its appeal against a recent judgment in favor of Ripple.

Ripple's chief legal officer criticised the SEC's actions as a misuse of resources, while CEO Brad Garlinghouse echoed these sentiments regarding the agency's regulatory approach.

In addition to XRP's performance, other altcoins are also seeing gains.

Dogecoin (CRYPTO:DOGE) and Cardano (CRYPTO:ADA) reported increases of 5% and 6%, respectively, while Stellar Lumens rose by 8%.

The recent interest in AI-related tokens further highlights the dynamic nature of the cryptocurrency market, driven by predictions of AI's impact on content generation.

At the time of reporting, the XRP (XRP) price was $3.17.