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Ripple’s XRP token has finally reclaimed the $1. The asset last traded above $1 in November 2021, three years ago. XRP’s price has risen by 8.2% in the daily charts, 95.5% in the weekly charts, 124.3% in the 14-day charts, and 110% over the previous month. The asset has also risen by 88.8% since November 2023. Also Read: Cryptocurrency Trader Turns $33K Into $12.2 Million In 24 Days Source: CoinGecko What’s pushing Ripple’s XRP token? XRP’s latest rally follows Bitcoin’s (BTC) climb to a new all-time high of $93,477.11 last week. The crypto market entered another bullish phase after Donald Trump won the US Presidential election. Trump’s pro-crypto stance has led many to believe that the US will have lenient crypto regulations over the next four years. Source – Bitcoinist Also Read: Tesla: TSLA Surges 5% As Trump-Musk Duo Fuels EV Optimism The Federal Reserve also cut interest rates by 25 basis points earlier this month. Rate cuts often lead to investors taking on more risks as borrowin

In an important development for the crypto, Ripple has seen whales buy 50 million XRP in the past 24 hours. The move comes as the token could be looking to enjoy a massive surge in the coming days, with some traders anticipating an unprecedented move upward for the asset. The token has struggled to move beyond the $0.60 level in recent weeks. Moreover, increased volatility in the market has not helped its case. Yet, that could be set to change. As whales take action, Ripple could be in a primed position to enjoy an extended price rally. Also Read: Ripple XRP Falls 3%, Can It Reclaim $0.60 This Week Whales Snag 50 Million XRP as Price Nears $0.60 Entering 2024, Ripple had immense potential to surge. With its US Securities and Exchange Commission (SEC) lawsuit coming to an end, the regulatory clarity was poised to be massive for the token. Yet, it has struggled to capitalize. In the last 30 days, the token has stayed at its current level of $0.597, according to CoinMarketCap. Moreover, i