 Redemption arcs of 2024: Ripple’s victory, memecoins’ rise, RWA growth 
2024-12-26
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Bitcoin’s historic rally to the $100,000 milestone occurred among many significant crypto redemption stories in a year that further legitimized the industry’s status.
The year’s events brought a resurgence for many notable crypto projects that had faced hardships, including Ripple Labs, which scored a significant legal victory against the United States securities regulator, while the memecoin and asset tokenization sectors were also revived, driven by growing retail interest and robust growth predictions.
Beyond new all-time highs, 2024 brought renewed institutional interest in blockchain from some of the world’s largest institutions, such as BlackRock, which launched multiple crypto-based products.
Moreover, President-elect Donald Trump’s victory in the 2024 elections bolstered investor appetite for risk-on assets such as cryptocurrencies, as an improved environment is expected to bring more regulatory clarity, especially for tokens like XRP XRPUSD.
Ripple Labs and XRP token emerge victorious in 2024
Despite a four-year-plus regulatory battle between Ripple and the Securities and Exchange Commission (SEC), the XRP token has proved its resilience amid a robust community of holders.
During the past year, the XRP token rose over 251%, more than double that of Bitcoin’s BTCUSD 117% returns, according to Cointelegraph data. This makes XRP the second-best performer in the top 10 cryptocurrencies, Cryptobubbles data shows.
Beyond the XRP token’s financial returns, Ripple Labs also saw a “significant redemption arc” during the past year, according to Alvin Kan, chief operating officer of Bitget Wallet.
He told Cointelegraph:
Ripple scored a significant legal victory in July 2023 when a federal judge ruled that XRP was not a security, regarding programmatic sales on digital asset exchanges.
This marked a significant win for Ripple, as the SEC lawsuit sought to compel Ripple to stop offering its XRP token under the premise that it was a security and, thus, required additional regulation. 
However, the SEC also managed to notch a victory of its own, as the federal judge has ruled that XRP is a security when sold to institutional investors, as it met the conditions set in the Howey test. 
The SEC filed its lawsuit against Ripple in December 2020. In August 2024, a judge found the company liable for a $125 million civil penalty. The commission appealed the ruling, and Ripple filed a cross-appeal, leaving the civil case ongoing at the time of publication. 
On Oct. 16, the SEC filed a Form C civil appeal asking the court to review its decisions regarding Ripple’s XRP sales on exchanges and personal XRP sales by Ripple CEO Brad Garlinghouse and co-founder Chris Larsen.
Trump’s upcoming inauguration, along with his choice for SEC chair, Paul Atkins, have reignited investor hopes that the SEC may drop its legal case against Ripple Labs amid more innovation-friendly crypto regulations.
Memecoin resurgence: 1,600% PEPE and 1,400% WIF rally attract more retail investors
Memecoins have also seen a significant revival, becoming some of the best-performing cryptocurrencies of the year and creating new crypto millionaires in the process.
Year-to-date, the Solana-based Dogwifhat (WIF) meme token rallied over 1,273% as the second-best performer in the top 100 cryptocurrencies. It was followed by Pepe (PEPE), which is up 1,229% as the third-best performer.
Benefiting from Pepe’s rally, a savvy memecoin trader turned a $27 investment into $52 million after holding the coins for 600 days, Cointelegraph reported on Dec. 14.
While 2024 was transformative for the entire crypto industry, the memecoin redemption arc remains a significant development, according to Anndy Lian, author and intergovernmental blockchain expert. 
He told Cointelegraph:
The redemption arc behind memecoins is a testament to community-driven projects, added Lian.
Some crypto traders see Pepe as this cycle’s Dogecoin (DOGE), which is also gaining traction thanks to Musk’s continued social posts, wrote Ryan Lee, chief analyst at Bitget Research:

On Nov. 27, Dogecoin flipped Porsche’s market capitalization, following Musk’s involvement in creating the nascent Department of Government Efficiency, which further stoked interest.
RWA tokenization poised for trillion-dollar growth leading into 2030
The real-world asset (RWA) tokenization sector has also seen a significant redemption, thanks to its promise of bringing traditional finance onchain to create more liquidity and accessibility for investment products.
RWA tokenization refers to financial and other tangible assets minted on the immutable blockchain ledger, increasing investor accessibility and trading opportunities around these assets.
The launch of BlackRock’s Institutional Digital Liquidity Fund (BUIDL) was a pivotal moment for the RWA tokenization sector, according to Edwin Mata, co-founder and CEO of Brickken, who told Cointelegraph:
BlackRock’s tokenized treasury fund surpassed $500 million market capitalization as the first such fund to reach this milestone in July 2024.
BlackRock’s BUIDL surpassed the Franklin OnChain US Government Money Fund (BENJI) as the world’s largest tokenized treasury fund in late April — less than six weeks after it launched on March 15. BUIDL has held the top position ever since.
BUIDL’s price is pegged 1:1 with the US dollar and pays daily accrued dividends directly to investors each month through its partnership with real-world asset tokenization platform Securitize.
The tokenized fund brought more transparency, liquidity and accessibility to already trusted financial products, added Mata:
In other notable developments for the RWA sector, Tezos has launched the world’s first Uranium marketplace on the blockchain, enabling retail investors access to tokenized Uranium for the first time in history.
Moreover, RWAs are unlocking new investor opportunities in the $700 billion reinsurance sector following the launch of Nayms, a crypto-native (re)insurance marketplace leveraging RWA tokenization to offer tokenized investor access to insurance risks.
The RWA sector could see more than 50-fold growth by 2030, according to predictions from some of the largest financial institutions and business consulting firms compiled in a Tren Finance research report.
Most firms predict that the RWA sector may reach a market size of between $4 trillion and $30 trillion.
If the sector achieves the median prediction of about $10 trillion, it would represent more than 54 times growth from its current value.
The year 2024 marked a significant resurgence for the crypto industry in terms of valuations and mainstream trust. Ripple’s legal victory and increasing interest in memecoins and RWAs showcase the industry’s growing legitimacy for retail participants and regulators worldwide.