On January 18, 2025, XRP and Ethereum's ETH experienced profit-taking as a Donald Trump-themed memecoin surged on the Solana network, attracting $3 billion in trading volume shortly after launch. This new token quickly jumped from mere cents to $14, as it was mistakenly viewed as being backed by Trump. The launch affected trader sentiment towards major cryptocurrencies; XRP fell by 5% after witnessing a substantial 40% rise in the week prior. This shift in attention towards the Solana ecosystem amidst speculations of Trump's pro-crypto policies ahead of his inauguration could signal a growing interest in memecoins. Ripple's XRP had gained traction recently due to optimism after Trump’s promise to strengthen U.S.-based digital coins. XRP briefly surpassed the $3 mark, its highest since 2018, reflecting bullish sentiments about its future prospects with the incoming administration.

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