XRP, the third-largest cryptocurrency by market cap, has surged 40% in just 24 hours, catapulting its market capitalization to over $156 billion. Analysts attribute this significant price increase to optimism around regulatory changes and Ripple’s ecosystem expansion.
Industry experts point to the ongoing legal battle between Ripple and the SEC as a critical driver of market sentiment. A positive development in the case, such as Gary Gensler’s resignation or a favorable settlement, could further boost XRP’s price.
Ripple’s RLUSD stablecoin and its broader ecosystem growth are fueling demand for XRP. The company’s partnerships with financial institutions and the token’s integral role in its infrastructure directly impact XRP’s valuation.
Market analyst Alex Kuptsikevich of FxPro noted that while XRP’s price has stabilized at $2.6—a level not reached since 2018—corrections are likely at this point. However, he also pointed to the potential introduction of XRP-related ETFs as a future catalyst.
XRP has posted year-to-date gains of 286%, significantly outperforming Bitcoin and Ethereum. The token’s rally reclaimed the $2 level for the first time in nearly seven years, with a market capitalization exceeding $136 billion.
Source: https://www.benzinga.com/markets/cryptocurrency/24/12/42296482/xrp-price-explodes-415-in-30-days-experts-analyze-why-xrp-is-going-up