Since Trump was elected, the price of XRP has soared from $0.50 to $2.15, an increase of about 330%, marking its strongest performance since 2017. As the regulatory environment shifts from SEC pressure to a more favorable outlook, Ripple has once again become a market focal point. But beyond the hype, the real question investors care about is: does XRP really have practical utility? Currently, Ripple's cross-border payment network is its core application scenario. The company has established over 300 financial partners in 45 countries, with related payment volumes reaching $15 billion annually. XRP has also achieved significant usage in high-frequency remittance markets such as Japan, East Asia, the Philippines, and Latin America. Compared to traditional cross-border payments, XRP's advantages lie in low cost, borderlessness, and high speed, reducing reliance on traditional financial infrastructure.

However, some analysts still consider XRP a highly speculative asset, with its valuation relying more on market liquidity than actual revenue performance. Although there are more than 50 million payment transactions on-chain each month, many holders still view it as a speculative tool rather than a payment asset.

On the market side, Ripple's strong enterprise performance has also become a key support for XRP's rising popularity. The company recently secured a $500 million investment from Fortress Investment Group and Citadel Securities, raising its valuation to $40 billion. In addition, the number of network wallets has surpassed 5 million, reflecting the continued expansion of its ecosystem.

In terms of ETFs, UK-based CoinShares has suspended its US XRP ETF plans, possibly due to unclear SEC regulatory attitudes. However, there are still nine XRP investment products on the market, with total assets under management (AUM) reaching $1.1 billion, which already meets the needs of many institutions.

As the SEC lawsuit is expected to be settled in 2025 for $50 million, removing a long-standing obstacle, many analysts believe XRP's regulatory risk has significantly decreased. Coupled with Robinhood relisting XRP after Trump’s election victory, market confidence in its future prospects has further strengthened.

Overall, XRP's rise is driven by application scenarios, network growth, and massive investment, as well as the speculative forces of the crypto market. In the cross-border payments field, XRP has established certain barriers, while on the trading side, it remains a highly volatile asset. Whether it can truly shed its "speculative label" in the future will determine whether its upward trajectory can be sustained. (BeinCrypto)