XRP continued to rise into Monday, jumping to a price of $2.74 – its highest level since January 2018 – and increasing the price more than fivefold in the last 30 days.

The Ripple-linked cryptocurrency began rising after Donald Trump’s election victory last month, but really took off after Securities and Exchange Commission (SEC) Chairman Gary Gensler announced his resignation, effective January 20, 2025 .

Gensler led the agency’s prosecution of crypto firms that allegedly offer unregistered securities, including Ripple Labs, whose founders developed XRP. With Gensler on the decline, XRP proponents believe that regulatory clarity will emerge and that this will open the door to the discovery of XRP exchange-traded funds (ETFs) and other potential financial offerings.

At a current price of $2.74, XRP is up 45% in the last 24 hours and 92% on the week, taking its 30-day jump to 436%, according to data from CoinGecko. XRP continues to set a new seven-year high price mark after doing so for the first time on Saturday.

While all major cryptocurrencies have seen price increases in recent weeks, XRP is now far outperforming the heavyweights Bitcoin (BTC) and Dogecoin (DOGE). Bitcoin is up 40% in the last 30 days to a current price of $97,180, while Dogecoin is up 176% in that period to a current price of $0.43.