XRP (XRP) has dropped by 22.25% over a month after hitting $2.90, its highest level since January 2018, and was trading for as low as $2.26 on Jan. 10. Profit-taking due to XRP’s overbought levels, strong US economic data,

But what’s next that could drive XRP higher? Ripple has already launched the RLUSD stablecoin, which is fully backed by cash in the form of USD, government treasury securities, and other cash equivalents. Leaving the broader rally in cryptocurrencies aside, there are a few factors that may trigger the next growth in XRP.

XRP the popular altcoin that is used to facilitate and settle payments on the Ripple platform, rose 2.6% to $2.45. Cryptos have rallied across the board since November on hopes that the incoming Trump administration will further boost the digital coins.

XRP price rose early Monday amid a mixed start to the week for cryptocurrencies. XRP, the token, which is used to facilitate and settle transactions on Ripple Labs’ digital-payments platform, is up 1.