, the cryptocurrency created by , has just hit its highest price ever – US$3.65. This new all-time high (ATH) is a major moment for a coin that has had a long and drama-filled journey since it was launched in 2012. 

This new ATH has even shot past the price prediction we tested out. 

Of course, crypto prices are volatile, with more peaks and troughs than a surfer caught between Portuguese waves in Nazaré. 

So we all know that what goes up sometimes not only goes down, but it can take everything and your rug too. So let’s not wet our crypto pants with excitement yet.

But we will give you this: XRP HoDLers are currently basking in the glorious sunny XRP moment for now, sunscreen free. Feel the burn, baby!

A Quick History of XRP’s Price

XRP started out as one of the first big-name cryptocurrencies after Bitcoin. It was created as a product for banks and financial institutions. The modus operandi of XRP is a crypto that could assist in sending fiat faster and cheaper across borders. 

XRP has often come under fire for being a centralised crypto, that is, controlled by a private entity and possibly open to manipulation. XRP was also often criticised in the past for having limited real-world use. While financial institutions used the underlying technology, they did not use the XRP token itself.

However, this has begun to change in recent years, as more financial institutions are now using XRP for On-Demand Liquidity (ODL). However, Ripple Labs insist that now XRP runs on the XRP Ledger, which operates like a public digital record book where all XRP transactions are kept.

This makes it work more like a decentralised cryptocurrency. Either way there seems to be room in the world for lots of different cryptocurrencies that work in different ways and solve different problems.

XRP Price in 2017

In 2017, XRP saw its . It rose from less than 1 cent to over US$3 in January 2018. This was during the broader crypto bull run when many coins hit record prices. After that, XRP's price fell sharply and didn’t recover for years. Part of the reason was by the US Securities and Exchange Commission (SEC) in 2020, which accused Ripple Labs of selling XRP as an unregistered security.

For a long time, this legal battle kept XRP’s price low while other coins like Bitcoin and Ethereum reached new highs.

So Why Has XRP Shot Up Now?

Several key things have caused this price jump. In 2023 and 2024, Ripple scored in its legal case with the SEC. A US judge ruled that XRP itself isn’t a security when traded on public exchanges. This gave investors more confidence in the coin and helped it get listed again on major crypto platforms in the US.

Ripple has continued to with banks and payment companies globally. Its payment system, called RippleNet, is being used in regions like Asia, the Middle East, and South America. However, XRP isn’t always used in RippleNet unless On-Demand Liquidity (ODL) is involved. When ODL is used, XRP acts as a bridge currency. This increases demand for XRP, which could be good news for XRP holders if demand for this service grows.

Speculation and FOMO (Fear of Missing Out)

And here come the retail buyers, or individual buyers like you and me. As XRP started gaining attention again, more traders jumped in, hoping to profit from its rise. This has pushed the price up further in a classic “bull run” cycle.

Altcoin Rally

XRP’s rise is also part of a . Many altcoins (cryptocurrencies other than Bitcoin) are surging as investor interest spreads beyond just Bitcoin and Ethereum.

What Happens Next?

While XRP is having a big moment, calm down, sweaty crypto bro and overheated crypto sis.

Crypto markets can be very volatile. The drama in crypto is akin to a cat unexpectedly coming across a cucumber. So calm the farm, wipe the sweat from your brow, and make good choices, kids.

The above article is not to be read as investment, legal or tax advice and takes no account of particular personal or market circumstances; all readers should seek independent investment, legal and tax advice before investing in cryptocurrencies. This article is provided for general information and educational purposes only. No responsibility or liability is accepted for any errors of fact or omission expressed therein. CoinJar, Inc. makes no representation or warranty of any kind, express or implied, regarding the accuracy, validity, reliability, availability, or completeness of any such information.Past performance is not a reliable indicator of future results.