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The price of the XRP token (CRYPTO:XRP) by ripple continues to rise thanks to optimism over the new White House administration and potential XRP ETFs, resulting in the cryptocurrency recently overtaking Tether and Solana to become the third-largest cryptocurrency.

What happened: The price of XRP has surged 87% in the last seven days, hitting new one-month and one-year highs.

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The price movement could be due to expectations of new leadership at the SEC, a financial institution that has often clashed with Ripple. A new change could result in XRP and other cryptos facing less or no government opposition in the future, minimizing risk for investors.

Cryptocurrency experts also told Benzinga that Ripple’s partnerships with financial institutions could be the reason for the cryptocurrency’s price rise. The filing of multiple XRP ETFs has also led to investor excitement that the cryptocurrency may be getting more exposure and investors will have more opportunities to get involved.

While XRP has hit a new one-year high of $2.86 in the last 24 hours and the cryptocurrency is up over 280% year-to-date, the price is still behind an all-time high of $3.84 set in was set in January 2018.

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In 2018, a Ripple community event was also held at the three-day Consensus conference, where Snoop Dogg was booked as an entertainer and performer for the Ripple community.

Snoop Dogg, who has supported the cryptocurrency sector and non-fungible tokens, appeared at a private, invite-only Ripple Labs Consensus afterparty on May 15, 2018.

At the appearance in New York, several media outlets reported on Snoop Dogg’s appearance and the fact that he did not talk about investing in cryptocurrencies during his appearance. Instead, the event was more of a celebration for the XRP community. Ripple had previously stated that it did not pay Snoop Dogg for his appearance with XRP tokens.

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