TLDR:
- XRP has surged 194% in eight weeks, outpacing Bitcoin’s annual gain of 124%, due to thin order books and low supply according to analyst Dom
- It takes only 59.73 million USDT to move XRP price by 25% compared to 985 million USDT for Bitcoin, making XRP 16.5 times easier to move
- XRP reached a new all-time high of $2.90 on January 15, 2025, with current market cap at $164 billion, now at 42.6% of Ethereum’s market cap
- The SEC vs Ripple appeal case has a key development today with the SEC’s opening brief submission expected
- President-elect Trump’s nomination of crypto-friendly Paul Atkins as SEC chair could impact future regulatory landscape
XRP reached a high of $2.90 on January 15, 2025, marking a 194% increase over the past eight weeks. The digital asset’s price movement has caught market attention, particularly given its faster pace compared to Bitcoin’s 124% gain throughout 2024.
The price surge comes at a pivotal moment as the Securities and Exchange Commission (SEC) prepares to submit its opening brief in the appeal case against Ripple. This follows an August 2024 ruling where Ripple was ordered to pay a $125 million fine, much lower than the SEC’s initial $2 billion demand.
Market analyst Dom has provided insights into why XRP can move so rapidly despite its large market capitalization. According to his analysis, the key factor lies in the asset’s order book structure rather than its market cap size.

XRP
XRP Price
Using data from Binance perpetual markets, Dom demonstrated that moving XRP’s price by 25% requires only 59.73 million USDT to clear 19.88 million XRP. In contrast, achieving the same percentage move in Bitcoin’s price needs 985 million USDT to clear 9,040 BTC.
These numbers reveal that XRP’s price is approximately 16.5 times easier to move than Bitcoin’s, primarily due to thinner order books. This characteristic creates what Dom describes as a “vacuum effect” when strong buying pressure enters the market.
The supply dynamics of XRP also play a crucial role in its price behavior. Many XRP holders maintain long-term positions after experiencing years of market volatility, making them less likely to sell even after five-fold gains.
As of press time, XRP trades at $2.87, with a market capitalization of $164 billion. This places it at 42.6% of Ethereum’s market cap, narrowing a gap that has existed since 2014 when XRP last held the second-place position in the cryptocurrency rankings.
Historical data shows XRP’s journey from trading below a penny for much of its early existence. The asset first achieved prominence in the crypto markets in late 2013, when it briefly held the second-largest market capitalization position with a value of $100.59 million.
The current regulatory landscape could shift with President-elect Donald Trump’s nomination of Paul Atkins to head the SEC. Atkins, known for his crypto-friendly stance, would replace current chair Gary Gensler if confirmed by the Senate.
Ripple’s Chief Legal Officer Stuart Alderoty expressed optimism about this potential change, stating on social media platform X that “on January 20, Gensler’s war on crypto ends at the SEC.”
To match Ethereum’s current market position, XRP would need to add $221 billion to its market cap. With 57,493,120,449 XRP in circulation, this would require a price increase to approximately $6.70 per coin, assuming both assets’ supplies remain constant.
The thin order books that characterize XRP trading could face challenges when larger supply enters the market. Dom notes that resistance levels will become apparent in the order books as sell orders accumulate.
Today’s SEC brief submission marks another chapter in the ongoing legal battle between the regulator and Ripple. FxPro analyst Alex Kuptsikevich observed that courts have shown increasing receptiveness to Ripple’s arguments, noting concerns about SEC’s regulatory approach.
The price movement represents the highest level since the asset’s previous peak of $3.40 reached on January 7, 2017. Current trading shows XRP approximately 18% below that historical high point.
Market data indicates varying prices across different trading platforms, with 24-hour gains reaching 11.76% on some exchanges. The asset continues to attract attention from traders and investors monitoring both technical and fundamental factors.
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