XRP Soars Amid Trump Victory and SEC Leadership Shift

A new report published in the American Bankruptcy Law Journal by legal scholar Jessica G. McKinlay reveals a striking connection between XRP’s dramatic price surge and the political shift following Donald Trump’s 2024 presidential victory over Kamala Harris. According to the report, Trump’s crypto-friendly policies were instrumental in XRP’s remarkable 443% rally from November 5 to December 2, 2024, when its price climbed from $0.50 to $2.72. By mid-January 2025, XRP reached a seven-year high of $3.40, reflecting growing investor confidence fueled by Trump’s promises to support crypto innovation, clarify regulations, and reduce government interference.

The report also highlights the impact of the SEC’s leadership change, with Paul S. Atkins replacing Gary Gensler as chairman. This transition is widely viewed as beneficial for the crypto industry, bringing renewed hope for resolution in Ripple’s protracted legal battle with the SEC and spurring a bullish market reaction.

While XRP led the gains, Bitcoin and Ethereum also saw significant increases in late 2024, with Bitcoin rising 37.4% and hitting $100,000, and Ethereum surging 47.4%. The report praises Ethereum’s energy-efficient move to proof-of-stake but critiques Bitcoin’s environmental footprint and mining centralization.

Concluding, McKinlay’s report suggests that the combined effects of Trump’s regulatory stance and the SEC leadership overhaul created an environment that allowed XRP to thrive, illustrating how political changes can dramatically reshape crypto market dynamics.