Trading volume for XRP surged by 26% to $5.5 billion in the last 24 hours, catching the attention of investors and enthusiasts alike. On February 19, 2025, at 7:53 a.m. UTC, U.S. President Donald Trump made waves in the XRP community by sharing an article related to the digital asset on the social media platform Truth Social.
The article, originally published by CoinDesk in January, highlighted Ripple CEO Brad Garlinghouse’s increased U.S. business deals and hiring efforts following Trump’s election victory in November. This unexpected endorsement from Trump sparked a flurry of excitement and speculation among XRP supporters, with many expressing their optimism for the future of the cryptocurrency.
With 6.3K likes and 268 replies, the majority of comments echoed sentiments like “XRP to the moon,” fueling discussions about XRP potentially becoming the foundational currency for a U.S. crypto reserve. Despite the buzz generated by Trump’s post, the price of the XRP token remained relatively stable at $2.53. However, the surge in trading volume to $5.5 billion indicated a heightened interest and activity surrounding XRP within the market.
Ripple’s Legal Battles and Regulatory Environment
The timing of Trump’s XRP endorsement coincided with escalating legal battles and regulatory developments within the cryptocurrency space. The Elon Musk-led Department of Government Efficiency (DOGE) recently targeted the Securities and Exchange Commission (SEC), potentially paving the way for a positive outcome for Ripple. Ripple currently faces an appeal from the SEC over allegations of an unregistered securities offering in 2020.
In addition to these legal challenges, there is growing anticipation surrounding the potential approval of an XRP exchange-traded fund (ETF) this year. The SEC’s acknowledgment of a filing by the New York Stock Exchange and Grayscale last week has fueled optimism among investors and industry experts. If approved, an XRP ETF could open up new avenues for investment and further legitimize the digital asset in the eyes of traditional financial institutions.
Insights from CoinDesk’s Oliver Knight
Oliver Knight, the co-leader of CoinDesk’s data tokens and data team, brings a unique perspective to the evolving landscape of cryptocurrencies. With a background that includes three years as the chief reporter at Coin Rivet and experience in bitcoin investments dating back to 2013, Knight offers valuable insights into the market dynamics and trends shaping the industry. While he does not currently hold any crypto assets, his expertise and deep understanding of the crypto ecosystem make him a trusted voice in the community.
As the XRP community eagerly awaits further developments and regulatory clarity, Trump’s endorsement and the surge in trading volume serve as reminders of the unpredictable nature of the cryptocurrency market. Amidst legal challenges, regulatory scrutiny, and evolving investor sentiment, XRP continues to capture the attention of both seasoned traders and newcomers to the digital asset space. Whether it’s a presidential tweet or a regulatory decision, the future of XRP remains intertwined with broader market forces and the ever-changing landscape of cryptocurrencies.
