Ripple’s native token, XRP has defied the prevailing correction among top cryptocurrencies to continue an upward movement.
According to 1 January data from Coin Market Cap, the token has gained 3.85% in 24 hours at the time of writing this report, making it the only top ten asset in green.
Why XRP is pumping
XRP was one of the best performing crypto assets in 2024, therefore it isn’t surprising if it continues its upward movement in 2025. However, there’s a different explanation for the current pump.
According to crypto analyst Crypto Bitlord, the pump is related to the unlocking of 500 million XRP from Ripple’s escrow, but that isn’t all.
The transfer of XRP also carried an intriguing message stating that it’s time to make crypto great again as the 20th January Donald Trump takeover date draws closer, which could have sparked enthusiasm among XRP holders.
Another likely reason is the recent adoption of XRP for cross-border payments by most South Korean banks.
The token is said to have grown very popular among retailers in the country, leading to a big boost in the trades on exchanges.
This rising volume can be a precursor for higher price gains, but there’s a catch. The high volume can also cause a downward move if the traders begin to sell.
For now however, the sentiment around XRP is extremely bullish in South Korea, which may spread to the rest of the market.
What to expect
According to Crypto Bitlord, XRP’s defying pump suggests that XRP memecoins will even perform better.
There is a general optimism that the crypto market may be just getting set for a significant bullish move in 2025 particularly as Donald Trump takes over as president, and XRP may be prepping for this.
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