XRP Price Action Mirrors 2017 Pattern As Trump Donation Sets Records

• XRP in 2024 mirrors the trend seen in 2017, suggesting a continued rally in early 2025.
• Ripple to donate $5 Million in XRP to President-elect Trump’s inaugural fund matching the largest single donation in U.S. inauguration history.

XRP price gained bullish sentiment as it mirrors the 2017 pattern amid steady whale accumulation.

Their market capitalization level looked identical to the start of 2017 giving a sense of possibility of such a repeat. The pattern was established, followed by the consolidation phase near an important support level.

By mid 2017, XRP’s market capitalization reached more than six fold of its initial value. Such resurgence of value indicated positive sentiments for the early parts of year 2025 citing historical trends.

Importantly, the recent movement aligned with the stay above moving averages which suggests that the bullish trend will remain dominant in the market.

At press time, XRP price traded at $2.27, noting a decline over 1.95% replicating minor profit booking on the charts. Its market cap dropped to $130.06 Billion and total supply stands at 99.98 Billion.

Exploring Ripple’s Donation to Trump’s Campaign Fund

Ripple’s $5 Million donation in XRP to President-elect Trump’s fund matched ‘the largest single contribution in U.S. inauguration history,’ Jacob King noted on X.

As Trump’s administration is expected to have a pro-crypto approach, Ripple’s donation could attract more investors to XRP.

Together with other recent high-value crypto-donations to political endowments, this reflects a more favorable political and economic outlook towards digital currencies.

Other major players in the cryptocurrency industry including Coinbase and Kraken also contributed significantly. Nevertheless, these donations could also be an organized approach to ensure the US administration maintains a friendly disposition towards the industry.

XRP Whales Trigger Price Speculation with Massive Transfers

XRP price has remained to recover and trade back above the $2 level, after experiencing significant whale action. In the last few hours, a massive whale transfer was noted.

Over 90 tokens worth approximately $202.5 Million were transferred to unknown wallets.

This massive withdrawal noticed by Whale Alert attracted market participants and could fuel further price surge in the coming sessions.

Futures Market Data Outlook

Data from Coinglass showed that XRP’s funding rate remained positive, which implies higher demand for long positions compared to shorts. Thus, most traders are bullish, and that they are willing to pay a premium to hold their trades.

Furthermore, the Open Interest (OI) has risen over 1.20% to $2.03 Billion, signifying long buildup activity on the charts.

However, the Long/Short ratio remained neutral as 48% of longs stood in front of 52% of shorts, which revealed a mixed outlook.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.