On January 16, the cryptocurrency XRP showed rapid growth, reaching the level of $3.4 on leading crypto exchanges. Over the day, the price of the token increased by 16%, and the open interest in futures on the asset reached a record high of $7.7 billion.

At the time of publication, XRP is trading around $3.32, and its capitalization is $190.9 billion. Over the week, the value of the coin increased by almost 45%.

The key factor in the growth was the appeal of the earlier court ruling in the Ripple case. Recall that the court proceedings began in 2020, when the company was accused of selling unregistered securities worth $1.3 billion. Despite Ripple’s partial victory in court in 2023, the issue of institutional transactions remains open, which continues to cause discussions in the market.

Investor optimism is also boosted by growing interest in RippleNet and improving attitudes towards cryptocurrencies in the political environment. An additional boost to growth has come from large-scale purchases of the asset by large holders.

In December 2024, Ripple received permission to launch trading of the RLUSD stablecoin, which also strengthened the company’s position in the market.

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