The momentum behind some of the hottest cryptocurrencies on the market continued over the weekend and into the start of trading on Monday. XRP (CRYPTO:XRP) continues to be the biggest name trending higher and is now the third largest cryptocurrency behind it Bitcoin (CRYPTO:BTC) And Ethereum (CRYPTO:ETH).

As of 12:30 p.m. ET, XRP is up 36% in the last 24 hours alone and is up 55% since the market closed on Friday. chain link (CRYPTO:LINK) is up 17.6% in the last 24 hours and up 22.6% since Friday. Hedera (CRYPTO: HBAR) is up 45.6% in the last day and up 87.9% since the last market close.

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In the crypto market, momentum can be enough to push a cryptocurrency significantly higher in a short period of time. This is happening with XRP due to speculation that the new Trump administration will be more positive towards cryptocurrencies.

This is particularly significant for XRP, which has spent much of the last four years battling regulators in court. Ironically, Trump was president when these lawsuits began.

The XRP blockchain is designed to disrupt the traditional financial system. So if it’s allowed to thrive, it could be a win for investors, but it’s not clear if that will happen or how that value will flow back to token holders in line with the current $164 billion market cap.

21X announced today that it is using the Chainlink standard for its tokenized securities and settlement system in Europe. Tokenizing securities is one of the ways blockchain could disrupt traditional finance, and this is a big step toward more tokenization in one of the most highly regulated places in the world.

Such cryptocurrency utilities are on the rise, which will help the blockchain, but it is not yet clear whether much value will flow back to token holders in the long term.

Hedera’s value is rising in part because analysts have found that large holders are accumulating the token and delisting it from exchanges, suggesting they may be looking to hold onto it for the long term.

Another point of speculation is the news that Hashgraph board member Brian Brooks has been named as a potential head of the Securities and Exchange Commission (SEC). He doesn’t seem to be the front-runner, but having people close to the president is currently seen as a good thing for crypto.

The rapid moves in cryptocurrencies recently are reminiscent of late 2021 when the bull market was hot. The tokens would rise quickly on little more than speculation and momentum as investors fear missing out on the next rise.

The story continues