Cryptocurrencies
‘XRP Army’ Sends Crypto’s Third-Biggest Token to a Record High
- XRP has outperformed larger rivals Bitcoin and Ether this year
- Ripple has been locked in conflict with the SEC for years
XRP started in 2012 and was intended to be used for low-cost foreign exchange transactions.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
After being at the center of a conflict with the US Securities and Exchange Commission for years, XRP now has the largest gains of any major cryptocurrency so far this year.
The token linked to Ripple Labs Inc. reached a record high of $3.40 on Thursday and is up over 60% so far this year as expectations of a more crypto-friendly Trump administration and SEC help raise the outlook for the third-biggest cryptocurrency by market value. That has “XRP Army” trending on X, as the token’s long-time community of supporters celebrate the increase.