XRP has surged 260% over the past 30 days, outperforming major cryptocurrencies like Bitcoin, Ethereum, Solana, and Dogecoin.

Over the past month, Bitcoin gained 14%, while Ethereum rose by 15%, and Dogecoin by 1%.

This rally coincides with Ripple’s announcement of regulatory approval for its RLUSD stablecoin.

On Dec. 10, Ripple CEO Brad Garlinghouse announced that the New York Department of Financial Services (NYDFS) had approved RLUSD, Ripple’s USD-backed stablecoin.

The stablecoin is designed to compete with Tether (USDT) and USD Coin (USDC) by offering a regulated, and institutionally focused digital dollar alternative. RLUSD will be backed 1:1 with USD deposits, short-term U.S. Treasury bonds, and other cash equivalents.

Ripple has already partnered with major crypto exchanges such as Uphold, Bitstamp, and Bullish to support RLUSD. The company projects the stablecoin to achieve a $2 trillion market cap by 2028.

XRP’s Unprecedented Rally

XRP reached $2.14, marking its highest level in nearly a year and significantly outperforming Bitcoin and Ethereum.

The election of Donald Trump as the 47th U.S. president has further strengthened investor sentiment toward Ripple and XRP.

Trump’s administration is expected to ease regulatory pressures on the industry. Paul Atkins, a crypto-friendly figure, has been named as the new Chair of the Securities and Exchange Commission (SEC), replacing Gary Gensler, whose tenure was marked by strict enforcement actions against crypto companies, including Ripple.

Ripple had been in a prolonged legal battle with the SEC since 2020, when the agency filed a lawsuit alleging that XRP was an unregistered security.

Profit-taking has begun to slow XRP's momentum, with nearly $800 million in realized profits since the announcement of RLUSD’s approval.

On-chain data from Santiment shows that weekly active XRP addresses declined from 496,000 to 341,000, suggesting tapering investor activity.

Whale Activity Signals Strategic Shifts

Whale activity surrounding XRP has surged to its highest level in six months.

Over 2.66 billion XRP tokens have been transferred to Binance in the past 30 days, according to CryptoQuant data. Large inflows from whales often signal strategic moves, such as profit-taking or preparations for further market participation.

“The large inflows suggest that big XRP holders are actively transfering XRP over the network, and interact with Binance as an exchange. Whale deposits can often signal potential shifts in strategy, as these players have significant amounts of assets at their disposal,” wrote CryptoQuant analyst Maartunn.