Ripple's rise continues into the new year, a correction has so far failed to materialize, For the first time since 2018, Ripple has broken through the psychologically important US$3 barrier.

In fact, at the time of writing, Ripple is already trading at $3.24, representing a 21 percent price increase in the past 24 hours. Compared to last week, the third largest cryptocurrency has recorded an impressive 41 percent increase.

There are several reasons for Ripple's continued success. A major reason for the continued hype around Ripple coin was Donald Trump's election victory, which gave hope for a crypto turnaround in the US.

Now the resignation of unpopular SEC Chairman Gary Gensler is imminent. In this context, Ripple-CLO Alderoy called the SEC's appeal a "rehashing of failed arguments," likely to be rejected soon by the Trump administration.

Since the Republican election victory and the prospect of an end to the four-year lawsuit between Ripple Labs and the SEC, the XRP stock price has now risen more than 500 percent.

Also bullish is the prospect of the first XRP Spot ETFs still this year. A new report of JPMorgan speaks of "$4 billion to $8 billion in new capital" that Ripplecoin could receive through index funds as early as the first year.

Furthermore, the new Ripple stablecoin RLUSD is posting its first successes. After listings on the crypto exchanges Bullish and Bitstamp Ripple USD exceeded a daily trade volume of $100 million.

Meanwhile, the Perpetual Futures Open Interest for XRP reached a record 2.34 billion XRP. Funding rates, which reflect the cost of holding delivered stakes, are at 13 percent. This suggests that there is no overheating.

To the all-time high of $3.40 set seven years ago, the XRP price only needs to rise a few more percent. What recently seemed unthinkable is coming within reach.