- XRP has surged over 400% in the past year after resolving its SEC lawsuit and gaining renewed investor interest.
- Ripple’s upcoming Swell event and potential ETF approvals in November could drive its price even higher.
XRP has been one of the standout performers in the crypto market over the past year, rising more than fivefold while major cryptocurrencies like Bitcoin and Ether grew only around 90%. With regulatory hurdles behind it and key events on the horizon, XRP is attracting renewed attention from investors seeking high-potential assets.
A Brief History of XRP
XRP is the native token of the XRP Ledger, developed by Ripple Labs in 2012. Designed as a fast and cost-effective alternative to traditional SWIFT transfers, XRP enables cross-border transactions with lower fees and faster processing times. Its total supply of 100 billion tokens was pre-minted, and a small portion of XRP is burned with each transaction, making it deflationary.
However, Ripple’s capital-raising strategy—selling large amounts of its own XRP—led to a 2020 lawsuit from the SEC, alleging that XRP was an unregistered security. This lawsuit caused major exchanges to delist XRP, and its price plunged to as low as $0.31 per token in 2022. Broader market pressures, including rising interest rates, compounded XRP’s struggles.
The Bounce Back
XRP made a comeback after the SEC concluded its lawsuit in 2023. The court ruled that public exchange sales of XRP did not count as securities, while it regulated sales to institutional investors. Ripple paid a $125 million fine, far below the SEC’s original $2 billion demand, and an injunction blocked it from selling additional XRP to institutional investors.
Following this resolution, major exchanges relisted XRP. Interest in XRP ETFs surged, with one ETF—the REX-Osprey XRP ETF—launching without the SEC’s explicit approval. Coupled with declining interest rates, these developments fueled XRP’s impressive rally over the past year.
Catalysts Ahead of November
Two major events could push XRP higher before November. First, Ripple will showcase updates on sidechains at its Swell conference on Nov. 4–5 in New York, enabling Ethereum-style smart contracts on the XRP Ledger. These developments could draw significant investor interest and expand XRP’s use for decentralized apps.
Second, the SEC is expected to rule on several spot XRP ETF applications in October and November. Approval could stabilize XRP’s price and draw both retail and institutional investors, offering another potential boost.
While XRP remains more volatile than Bitcoin or Ether, its upcoming events and regulatory clarity suggest that investors who position themselves now could see substantial upside by the end of the year.
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