Since the election, the cryptocurrency has surged 370%, while bitcoin has climbed 46% and the broader crypto market, as measured by the CoinDesk 20 index, has gained 93%.
During that rally, XRP surpassed Solana to become the third largest cryptocurrency by market value.
"The asset that's been at the front of the Peloton taking the regulatory headwinds has been XRP," Matt Hougan, chief investment officer at Bitwise Asset Management, told CNBC.
But today the crypto market "is looking for ways to express optimism about the new administration," no matter what practical difficulties XRP faces, Thorn said.
'Divisive' asset Hougan described XRP as a "fairly divisive" asset in the market, but defended its resilience and ability to "sustain community interest" through crypto's boom and bust cycles.
Persons:
There's, Trump's, bitcoin, Matt Hougan, XRP, it's, I've, Alex Thorn, It's, Thorn, haven't, Hougan
Organizations:
XRP, Bitwise Asset Management, CNBC, Securities and Exchange, SEC, Galaxy Digital
Locations:
Solana