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Ripple’s native token, XRP, is witnessing an unprecedented surge, driven by a series of pivotal developments. Recently, the token’s price touched $3.38, just shy of its all-time high (ATH) of $3.84 set seven years ago. With this momentum, investor optimism surrounding Ripple’s ETF approval has soared, with Polymarket odds now at 70%.
Ripple ETF Approval Gains Traction
The prospect of a Ripple ETF has been a hot topic since Bitcoin ETFs revolutionized the market. Following the success of Ethereum ETFs, attention has shifted to Ripple, especially as Donald Trump’s electoral victory and rumors of SEC Chair Gary Gensler’s resignation add to the bullish sentiment.
Polymarket odds of Ripple ETF approval climbed from 50% to 70% in just a week, reflecting growing investor confidence. JPMorgan analysts predict that Ripple ETFs could attract $4-8 billion in inflows during their first year if approved. However, challenges persist, and experts believe final approval might extend into late 2025 under Trump’s administration.
Bullish Momentum Driving XRP Price
XRP has surged 44% this week, marking a dramatic recovery fueled by a blend of technical and fundamental factors. The token’s rally began in November, bolstered by Trump’s victory, increasing crypto-friendly sentiment, and Ripple’s expanding partnerships.
A recent bull flag breakout in XRP charts signals potential for further gains, with analysts forecasting prices of $10, $15, or even higher. Whale activity has also contributed, with over 1.04 billion XRP tokens accumulated in just 10 days.
Meanwhile, the resolution of the Ripple vs. SEC lawsuit remains a critical factor. Gensler’s rumored resignation is expected to bring clarity to regulatory hurdles, further enhancing XRP’s outlook.
Also Read: XRP Breaks $3 Barrier for the First Time Since 2018 Amid Soaring Trading Volume and SEC Anticipation
What Lies Ahead for XRP?
With XRP nearing its ATH and ETF approval odds climbing, the token is positioned for continued growth. However, the market remains watchful of regulatory developments and broader economic factors. As Trump’s presidency unfolds, Ripple’s trajectory may significantly shape the future of the crypto landscape.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
A lifelong learner with a thirst for knowledge, I am constantly seeking to understand the intricacies of the crypto world. Through my writing, I aim to share my insights and perspectives on the latest developments in the industry. I believe that crypto has the potential to create a more inclusive and equitable financial system, and I am committed to using my writing to promote its positive impact on the world.
