After climbing more than 40% in just a few days, Ripple Labs’ XRP has reached its all-time high (ATH) set back in January 2018. This sudden surge has not only re-established XRP’s dominance in the market but also fueled growing speculation about what lies ahead. With a fully diluted market cap of around $332 billion and a 24-hour average trading volume of $20 billion, XRP is once again in the spotlight.
This surge in XRP’s price, paired with Bitcoin’s (BTC) ongoing rally, hints that altseason may have finally arrived. Bitcoin’s dominance has been weakening, as the cryptocurrency has been in a rising trend for the past two years but is now forming a possible reversal pattern.
Let’s take a closer look.
The idea of a spot XRP ETF has gained significant momentum, especially with the re-election of pro-crypto leaders like Donald Trump. Several key companies, including Bitwise, Canary Capital, WisdomTree, and 21Shares, have already submitted applications for a spot XRP ETF with the US SEC.
Polymarket users predict a 70% chance of the SEC approving a spot XRP ETF in 2025, with a 52% likelihood of approval by July 31, 2025.
Renewed interest from institutional investors is expected to continue pushing XRP’s market value higher. XRP’s monthly Relative Strength Index (RSI) has surged past 80% for the first time since November 2017, though it has yet to reach the 90% mark it hit in the past.
XRP’s rally against Bitcoin (XRP/BTC) has broken through a key multi-year resistance level, indicating a shift in market sentiment. This suggests that more funds are rotating from Bitcoin into XRP.
The 2023 ruling by Judge Analisa Torres, which concluded that XRP sales to retail investors do not qualify as investment contracts, has led to a surge in institutional interest. Ripple Labs is also pushing to increase XRP’s mainstream adoption, particularly within the Web3 ecosystem.
For instance, Ripple Labs recently launched a fiat-backed stablecoin to supplement its cross-border operations. The blockchain payment company has also introduced smart contracts to the XRPL network, thus increasing its overall on-chain activities.
The crypto world is watching closely for what’s next in this unfolding story. We’ll keep you updated.
XRP is a digital currency used for fast, low-cost international payments, powered by Ripple Labs’ blockchain network.
XRP’s rise is fueled by increased institutional demand, the growing altseason, and optimism around a potential spot XRP ETF approval in 2025.
XRP could continue rising as institutional adoption increases, but its price will depend on market conditions and regulatory developments.
XRP shows strong growth potential due to increased institutional interest and a likely spot ETF approval, but as with any investment, risk remains.
The XRP price today is $ 2.20072434
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