• Ripple has unlocked a massive 500 million XRP tokens worth $1.1 billion.
• The unlocking was accompanied with a message of making “crypto great again.”
• XRP skyrocketed 11.22% in the past 24 hours.

Ripple unlocked 500 million XRP tokens valued at $1.1 billion, fueling excitement within the XRP community. This move coincided with an 11.22% price jump for XRP in the last 24 hours, pushing the altcoin to a daily high of $2.44. XRP’s market capitalization now stands at $135 billion.

Ripple accompanied the token unlock with a bold message: “January 20 is around the corner. Donald Trump will be in the WH, and we are going to make crypto great again!” The tokens were unlocked from Ripple’s “Ripple 25” wallet, which now holds 1 billion XRP. Of these, 500 million tokens were transferred to the “Ripple 13” wallet and locked in escrow.

Pro-Crypto Trump Administration Sparks Optimism

President-elect Donald Trump, set to take office on January 20, is expected to bring significant changes to the crypto landscape. His administration, seen as pro-crypto, has generated optimism within the blockchain community.

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The XRP community anticipates Ripple benefiting from regulatory clarity under Trump’s leadership. A likely leadership change at the SEC could also lead to the dismissal of the long-standing lawsuit against Ripple.

Bullish Drivers for XRP

Several bullish factors are strengthening XRP’s position. Resolving the SEC lawsuit and securing approval for a spot XRP ETF in the U.S. could drive the altcoin’s price higher. Despite trading 38.42% below its all-time high of $3.84, XRP shows potential for recovery.

Ripple’s recent introduction of RLUSD, a stablecoin tied to the U.S. dollar, adds to its bullish case. The company’s plans to collaborate with Cardano to develop blockchain-based solutions further enhance XRP’s long-term appeal.