A recent Forbes report has shed light on the growing momentum behind XRP, as the cryptocurrency experiences unprecedented gains and prepares to rival Bitcoin and Ethereum.
The report highlighted how regulatory shifts, market enthusiasm, and Wall Street’s interest in XRP-focused exchange-traded funds (ETFs) set the stage for 2025 to be a transformative year for Ripple and XRP.
XRP’s Resurgence in the Market
XRP’s price surged by over 400% over the last month, positioning it as the third-largest cryptocurrency by market capitalization. This rally comes after a prolonged period of stagnation due to Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC).
The digital asset’s price peaked at $2.86, its highest price since 2018, and the community is excited about its next steps.
The cryptocurrency’s resurgence aligns with broader market trends, including the success of Bitcoin and Ethereum spot ETFs launched earlier this year. These ETFs have driven institutional investment and liquidity, and Bitcoin’s ETFs helped it reach a new all-time high in March. XRP now stands to benefit from similar developments.
The Push for an XRP Spot ETF
The report noted that prominent financial firms, including WisdomTree, Bitwise, and Canary Capital, have filed applications to launch XRP spot ETFs. If approved, these ETFs would enable investors to gain exposure to XRP without directly holding the asset, a structure that has already proven successful for Bitcoin and Ethereum.
The introduction of an XRP ETF could significantly boost its price and adoption. As noted by Forbes, Bitcoin and Ethereum ETFs have become some of the fastest-growing ETFs in U.S. history, and XRP could follow suit.
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Regulatory Shifts Favoring Ripple
Ripple’s legal battle with the SEC has been a major barrier to XRP’s growth since 2020, but Forbes suggests the tide may be turning. SEC Chair Gary Gensler is set to step down in January 2025. This development, coupled with the election of Donald Trump as U.S. president, has fueled speculation that a more crypto-friendly SEC leadership could emerge.
The Forbes report highlights that Gensler’s impending departure has already boosted market confidence in Ripple. XRP’s price surged significantly following the announcement, reflecting optimism about the lawsuit’s resolution and its implications for Ripple’s operations.
The report noted that Industry experts, including Arthur Azizov, CEO of B2BinPay, have pointed to the improving regulatory landscape as a key driver of XRP’s recent gains. Donald Trump has now nominated Paul Atkins, former SEC Commissioner, for the role of SEC, and this could bode well for XRP and the broader market.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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