Over the past day, the value of XRP‘s native token has increased by over 6%, while many significant cryptocurrencies have remained stable. Bitcoin saw a rise of about 0.5%, Ethereum only went up by 0.07%, and BNB experienced a decrease of 0.4%.
In simpler terms, it’s worth noting that XRP is currently performing better than the overall crypto market. This superior performance might be due to a recent analysis by JPMorgan, which predicts that an exchange-traded fund (ETF) specifically focused on cryptocurrency could potentially attract billions of investment dollars from interested parties.
The release of the report boosted the cost of XRP, as investor enthusiasm for an upcoming ETF has been gradually increasing. This surge in value took XRP to a peak of $2.89, but it later experienced a minor adjustment and is currently trading at around $2.745.
Under the anticipation of a more favorable regulatory climate for cryptocurrencies during President-elect Donald Trump’s tenure, XRP, along with many other digital assets, began experiencing an upward trend. Confidence among investors has been strengthened by potential policy changes such as the creation of a strategic Bitcoin reserve and the appointment of Paul Atkins as the head of the SEC.
It’s worth mentioning that Atkins is perceived as an advocate for cryptocurrencies, making him an appropriate choice to lead the regulatory body, which has been involved in a court dispute with Ripple – a significant player in the XRP market – concerning their sales of XRP.
Trump’s supportive view on cryptocurrencies has sparked speculation that XRP could soon debut a spot Exchange-Traded Fund (ETF), providing investment exposure to it. Multiple firms, such as Bitwise, Canary Capital, WisdomTree, and 21Shares, have submitted applications for spot XRP ETFs. Ripple’s CEO, Brad Garlinghouse, has hinted at the possibility of such a fund, describing it as “simply unavoidable.
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2025-01-15 15:50