XRP Soared 443% After Trump Won the 2024 U.S. Election

XRP soared 443% post-2024 U.S. election, fueled by Trump’s crypto-friendly stance and clearer regulatory promises.

A newly published report in the American Bankruptcy Law Journal by legal scholar Jessica G. McKinlay has highlighted a strong link between XRP’s explosive price surge and the recent political shift in the U.S., following Donald Trump’s victory over Kamala Harris in the 2024 presidential election.

As the report, titled "Unraveling the Fabric of Bankruptcy Law," underscores, Trump's administration promised a crypto-friendly regulatory landscape, which ultimately influenced several key developments in the market.

The report highlights that Trump's crypto-friendly policy proposals played a significant role in XRP's 443% rally between November 5 and December 2, 2024. As Trump's administration focused on streamlining regulations and providing a favorable environment for digital assets, investors responded accordingly.

By mid-January 2025, XRP touched a 7-year high of $3.40, reflecting growing investor confidence after Trump's promise to:

In contrast, Kamala Harris's stance was less defined, leading to uncertainty in the market about the regulatory outlook.

One of the most critical factors behind XRP's rise, the report notes, is the replacement of SEC Chairman Gary Gensler with Paul S. Atkins, a move widely seen as favorable for the crypto industry.

Ripple's long-running legal dispute with the SEC under Gensler had cast a shadow over XRP for years. The new leadership brought renewed hope for resolution and regulatory clarity, which triggered a bullish rally in the market.

While XRP was the biggest gainer, Bitcoin and Ethereum also posted notable gains in November 2024, as highlighted in the report:

The report praises Ethereum's transition to proof-of-stake for its reduced energy use, contrasting it with Bitcoin's centralized mining practices and environmental impact.

Overall, the report concludes that Trump's administration's regulatory stance, combined with the SEC reshuffle, created a favorable environment for XRP to thrive. With clearer policy directions and reduced legal risks, XRP attracted significant investor interest.

As the U.S. regulatory landscape evolves, XRP's performance may become a case study in how politics can reshape crypto markets.