XRP, the cryptocurrency associated with Ripple Labs, has been making headlines once again. The asset recently achieved a significant milestone by ranking among the top 10 biggest movers on Robinhood, following a massive price surge that has caught the attention of investors. The recent rally has seen XRP surge by an impressive 73% over the past week, pushing its price closer to the $1 mark. This surge has been fueled by a combination of factors, including its relisting on the popular Robinhood trading platform and growing optimism around its ongoing legal battle with the U.S. SEC.

XRP’s Stellar Performance on Robinhood

As of November 15, 2024, XRP made waves on Robinhood’s trading platform, ranking as one of the top-performing cryptocurrencies across both its U.S. and European platforms. On Robinhood Europe, XRP claimed the fifth spot among the biggest gainers, with a weekly gain of 48.8%. Despite strong competition from coins like Dogecoin (DOGE), Bonk (BONK), and Pepe (PEPE), XRP outperformed several major assets, including Cardano (ADA), Stellar (XLM), and Shiba Inu (SHIB), which experienced gains of 42%, 34%, and 27%, respectively. In the U.S. market, XRP claimed third place in the list of top 10 gainers, trailing only behind DOGE and PEPE. This performance marks a notable shift for the coin, which has faced significant challenges in recent years.

Relisting Drives Renewed Interest

One of the key factors behind XRP’s recent surge is its relisting on Robinhood, a major trading platform in the U.S. and Europe. XRP had previously been delisted by Robinhood after the U.S. SEC charged Ripple with offering an unregistered security, a case that has since made headlines across the cryptocurrency industry. However, after a U.S. federal court ruled in July 2023 that XRP was not a security, many exchanges, including Coinbase and Kraken, relisted the coin. Robinhood, however, took longer to act. In September 2024, XRP was quietly relisted on Robinhood’s European arm, and just this week, it became available to U.S. customers again, reigniting investor interest.

The timing of the relisting couldn’t have been better. XRP’s price has been surging, closing in on the critical $1 mark. As of today, the coin reached $0.9771, with its market capitalization hitting $55.63 billion. This marks a substantial recovery for XRP, which had struggled with volatility and uncertainty due to the ongoing legal issues surrounding Ripple.

The Ripple Lawsuit and Investor Optimism

Several developments are contributing to XRP’s bullish outlook. Chief among them is speculation surrounding the future of Ripple’s ongoing lawsuit with the SEC. Investors are growing hopeful that under a potential Trump administration, the lawsuit could be resolved, providing Ripple with a clearer regulatory framework. Moreover, rumors about the possible departure of SEC Chairman Gary Gensler have further boosted investor sentiment, as many see this as a sign that Ripple may soon be free from the legal cloud that has hung over it since 2020.

With these developments in play, XRP’s recent price surge reflects a growing belief that the legal hurdles may soon be behind the cryptocurrency. Traders are watching closely to see whether XRP can maintain this momentum and possibly reach new highs in the near future.

Conclusion

XRP’s recent surge on Robinhood has proven that the cryptocurrency is once again on the radar of both retail investors and traders. The relisting on Robinhood, combined with growing optimism surrounding its legal case, has helped fuel a massive 73% increase in its price over the past week. As XRP nears the $1 threshold, all eyes are on whether the coin can sustain its momentum and continue climbing, potentially reclaiming its previous highs.