- The crypto market surged post-election, fueled by optimism over Trump’s deregulatory stance but later crashed
- Despite market volatility, Bitcoin and XRP maintained significant gains while other altcoins erased profits
- Whale activity in XRP increased by 26%, aligning with a 12% price surge despite macroeconomic uncertainty
Five months ago the cryptocurrency market saw one of its most bullish rallies to date. Fueled by investor optimism after Donald Trump, the candidate regarded as the most ‘crypto-friendly’ in the U.S. election, beat Kamala Harris to become the next United States President.
The commotion led to nearly all cryptocurrencies hitting major highs, some even touching their highest-ever prices. Bitcoin’s $100,000 record serves as a major example of how well the market performed at the time.
While Trump followed through with his deregulatory stance when it comes to crypto — with his appointed Acting Chair Mark Uyeda ending several crypto-related lawsuits in the SEC — the President’s aggressive foreign trade stance led to major uncertainty across all financial markets, ultimately affecting digital assets as well.
This led nearly all cryptocurrencies to crash, while some of them repealed all profits earned during the post-election bull run.
In the most notorious example, Ether has lost over 60% of its value from its January peak — not only reverting to its pre-election value but then continuing to plunge further as market uncertainty deepened. Such is the story with other altcoins like BNB, and DOGE which are either erased or are close to their pre-election values.
ETH/USDT
Interestingly, XRP, SOL, and Bitcoin are some of the select few who were able to hold on to most of their growth by April. While XRP and BTC are down by 36% and 23% from their January peak, respectively, both assets are still holding on to the majority of yields gained since November 2024.
XRP/USD
Bitcoin is still up 143% since November 5, while XRP managed to hold on to 347% yields in that same timeframe.
Whales Increasing Their XRP Stake?
An analysis of XRP wallets holding $100,000 worth of the currency or more reveals an interesting insight into how whales are trading XRP.
Over the last week, these wallets increased their XRP stake by 26% — potentially showcasing growing confidence among large investors in XRP’s future trajectory. While this major uptick came right after a sellout period, this significant accumulation suggests that whales are not ready to let go of their XRP holds just yet.
XRP Wallets Holding $100k of More
In that same period, Ripple’s altcoin saw a 12% surge, despite the extremely volatile market investors faced due to the U.S. tariff policy. Currently, $XRP trades at $2.13, up by 1.17% over the last 24 hours.
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