XRP has experienced a significant surge in value and open interest, driven by multiple factors including speculation around a potential XRP ETF, the U.S. election results favoring Donald Trump, and rumors of SEC Chair Gary Gensler's impending exit. XRP's price has risen to $1.6, marking its highest level in over three years and a 180% increase in the past month. Additionally, XRP's open interest has reached an all-time high of $1.8 billion. Despite this rally, XRP's current price remains more than 50% below its all-time high of $3.4 set in 2018. The developments have contributed to renewed optimism for Ripple, particularly as the legal pressure on the company appears to be easing. Meanwhile, Layer-1 chains like Bitcoin and Solana have also reached all-time highs, indicating a broader surge in the cryptocurrency market.