The price of the XRP Ledger’s native token is up more than 6% in the past 24 hours, while most other major cryptocurrencies are relatively stable, with bitcoin up around 0.5%. ether by only 0.07%, and even BNB. down 0.4%
XRP outcnds the wider market of cryptocurrencies on various factors, including a recent JPMorgan report suggesting that a negotiated stock market (ETF) in cash with an exposure to cryptocurrency could attract billions of dollars to investors .
The report contributed to the rise in the price of XRP, as investor optimism regarding the potential launch of such an ETF has continued to grow over time. The cryptocurrency’s rise took it to a high of $2.89 before undergoing a slight correction to now trade at $2.745.
XRP, like most digital assets, began to grow due to expectations of a more crypto-friendly regulatory environment under President-elect Donald Trump’s administration. Expected policy changes, including the creation of a strategic Bitcoin reserve and the appointment of Paul Atkins as head of the SEC, have boosted investor confidence.
It’s worth noting that Atkins is seen as a pro-crypto figure at the helm of the regulator, who has been embroiled in a legal battle with Ripple – a major player in the XRP ecosystem – over the company’s XRP sales. business.
Trump’s pro-crypto stance has led many to speculate that XRP could soon see the launch of a spot ETF offering exposure to it. Several companies have already filed for a spot XRP ETF, including Bitwise, Canary Capital, WisdomTree, and 21Shares. Ripple CEO Brad Garlinghouse suggested that such a fund was “simply inevitable.”
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