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XRP soared this year amid hopes that Ripple would benefit from a new leadership at the SEC.
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The demand for RWA sector’s Mantra token (OM) soared by a staggering 8984.65%.
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Dogecoin (DOGE), which was bullish before the announcement, has now turned bullish after the announcement. Department by Trump.
The crypto community will end 2024 with a smile as Bitcoin broke the $100K mark and even surged over $108K, before dipping to $95K. The U.S. authorities have approved Bitcoin and Ethereum Exchange Traded Funds (ETFs), causing a resurgence in the crypto space. Further, meme coins and RWA projects as well as ADA and XRP have made a remarkable comeback recently.
Ripple Labs, which is responsible for XRP, has secured a partial win against the U.S. Securities and Exchange Commission in 2023. Speculations were rife about the pro-crypto momentum that Trump’s appointment brought. This was thought to have fuelled XRP’s rally. XRP’s recent surge to over $2.86 was a result of Trump’s support for crypto.
According to CoinMarketCap, XRP was on the verge dropping out of the top 10 and now has a global market cap of $128 Billion. It is the fourth largest digital asset in the entire world. At the time of publication, XRP was trading at $2.18 and had a market capitalization of $124.42B.
Cardano (ADA), on the other hand signaled a possible bullish momentum. ADA, which dropped out of the top 10 this year, turned bullish in the last quarter rally. It soared to a high of $1.32, from a low point of $0.2799. It is currently priced at $0.8957, and is ranked ninth on the basis of valuation.
Meme Coins and RWA Sector Development
Pump.fun launched in early this year, and the number of meme coins on Solana (SOL), which is a cryptocurrency, soared. Tron’s (TRX) network experienced a similar situation. Dogecoin, the largest meme coin in terms of market cap, turned bullish as well, reaching a high of $0.4835, after recovering from $0.07497.
Crypto price trends: How XRP, SUI and other crypto currencies could shape 2025
The Department of Government Efficiency, or D.O.G.E. Donald Trump’s administration is responsible for the surge in sales. The department will be headed by Elon Musk, CEO of Tesla, and Vivek Raaswamy (one of the top candidates for the US elections in 2024). As a result, meme coins such as Pepe (PEPE), and dogwifhat, (WIF), rallied by over 1,200% earlier this year. This was due to the capital flowing from altcoins into meme coins.
The RWA sector has seen a massive rally driven by the increasing demand for tokenization of natural resource and other traditional investment routes. RWA tokens experienced a significant rise in price after integrating DeFi with TradFi. The price of Mantra (OM) soared by 8984.65%.
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