XRP Hits Seven-Year High During Meme Coin Surge

XRP Hits Seven-Year High During Meme Coin Surge

XRP surged to $3.00 on Wednesday, hitting its highest price since 2018, fueled by growing optimism over potential XRP ETFs. The token outperformed other major cryptocurrencies and reclaimed its spot as the third-largest coin by market cap.

Meme coins on the XRP Ledger, such as ARMY, PHNIX, and LIHUA, have also seen noticeable gains, with ARMY reaching a $107 million market cap after a 30% spike.

As a result of lower transaction fees, XRP is experiencing a resurgence in popularity among retail traders. “Should the SEC appeal be dismissed, or should the incoming SEC leadership choose to settle instead, this would be a huge win for Ripple,” said GSR research analyst Carlos Guzman.

Despite these gains, XRP's market value remains far from overtaking Ethereum’s $397 billion valuation, needing an additional $233 billion to flip the second-largest cryptocurrency. Interestingly, Google search interest for XRP also surpassed Bitcoin for the first time, highlighting growing retail curiosity.

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US to Return 94,643 Stolen Bitcoin to Bitfinex

US prosecutors have asked a federal court to approve the return of 94,643 Bitcoins, recovered from the 2016 Bitfinex hack. In a court filing, they specified that the assets could be returned as restitution once approved. Convicted hacker Ilya Lichtenstein was sentenced to five years in prison, while his wife, Heather Morgan (Razzlekhan), received an 18-month sentence for laundering the funds.

The filing noted that the remaining 25,000 bitcoins, laundered through “complex and technologically sophisticated means,” will require a separate claims process. The recovered assets also include Bitcoin Cash and Bitcoin Gold generated through hard forks. Both defendants agreed to forfeit the cryptocurrency as part of their plea agreements.

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SEC Delays Bitwise Crypto ETF Decision

The SEC has postponed its decision on the Bitwise 10 Crypto Index Fund ETF, which would offer exposure to a diversified basket of cryptocurrencies. Bitwise’s proposal, filed in December, seeks to list the fund on NYSE Arca and would include assets like Bitcoin, Ethereum, Solana, and XRP. If approved, this would be the first diversified spot crypto ETF in the US.

Crypto index ETFs are gaining interest as a logical extension of Bitcoin and Ethereum ETFs, which launched in 2024. “The next logical step is index ETFs because indexes are efficient for investors, just like how people buy the S&P 500 in an ETF. This will be the same in crypto,” said Katalin Tischhauser, Sygnum’s head of investment research, earlier last year.

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Thailand Explores Bitcoin Spot ETF Listings & Polymarket Ban

Thailand is considering allowing Bitcoin spot ETFs to provide retail investors with broader access to crypto markets. Currently, high-net-worth individuals can invest through fund-of-funds products like those offered by One Asset Management. “Like it or not, we have to move along with more adoption of cryptocurrencies worldwide,” SEC Secretary-General Pornanong Budsaratragoon told Bloomberg.

Thailand is also piloting crypto payments in Phuket to facilitate tourism, enabling Bitcoin transactions within a legal framework. Former Prime Minister Thaksin Shinawatra has proposed issuing government-backed stablecoins for retail and institutional use. However, authorities remain cautious, with Thai police preparing to ban Polymarket for facilitating illegal online gambling.

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Data of the Day

The market capitalization for AI agents grew 222% in Q4 2024, rising from $4.8 billion to $15.5 billion, according to a recent market report. Solana captured 56.48% of the market, valued at $8.44 billion, largely driven by the launch of Goatseus Maximus (GOAT) in October.

Base, a Coinbase-backed blockchain, also gained momentum with projects like Aixbt and Virtuals Protocol. Tokens like ai16z and Virtuals Protocol saw double-digit gains following a Franklin Templeton report highlighting the potential of AI agents in 2025.

More Breaking News

• Justin Sun announced the upcoming launch of USDD 2.0 with a 20% APY, funded by Tron DAO, promising transparency with all interest sent in advance.
• A Manhattan judge fined BitMEX $100 million for a five-year $1.3 billion scheme evading US regulations, despite prior penalties.
• Switchboard Protocol becomes the first Solana oracle network to integrate with Jito’s restaking platform, tapping into a $76 billion market.
• Crypto options exchange Deribit is exploring buyout offers, potentially valuing the company at $4–$5 billion, according to Bloomberg.
• Chainalysis reported that stablecoins accounted for 63% of illicit crypto transactions in 2024, caused by scams like “pig butchering.”
• Tether sued Swan Bitcoin in the UK over alleged contract breaches in their joint Bitcoin mining venture, escalating their ongoing legal dispute.
• Arweave sent encrypted data stored with synthetic-DNA technology to the moon on a lunar lander, designed to last for thousands of years.

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