The 6 reasons XRP is soaring right now
XRP has just hit US$3 for the first time since 2018. This is why.
XRP is close to breaking it's all-time high after a series of recent developments has seen it dominate the cryptocurrency markets this week.
Here are 6 reasons for its current surge and why it might be the crypto to watch in 2025.
1. XRP ETFs could be on the way
JPMorgan predicts XRP could be the next crypto to get an exchange-traded fund (ETF) after Bitcoin and Ethereum.
With approval potentially coming this month, XRP ETFs could attract US$8 billion in investment flows according to JPMorgan, fuelling the rally.
2. The SEC case could be dropped
Today the SEC's appealed its case against Ripple (the company behind XRP), but this could be the end of the road for the SEC's case.
With the pro-crypto Trump administration incoming, there's buzz that the new SEC might drop the appeal, ending a 4-year legal battle with Ripple.
3. Ripple's Trump connection
Ripple CEO Brad Garlinghouse recently dined with President-elect Trump, sparking speculation about Ripple working closely with the new administration.
4. Ripple's partnerships & acquisitions
Ripple's new On Demand Liquidity is a step up in payments and is powered by a huge number of partners and acquisition companies ($250m+) it has recently made.
5. Defi on XRPL
There are 2 key DeFi initiatives that are now on XRP Ledger:
1. Ripple''s RLUSD stablecoin has launched and is potentially being used as a CBDC by the Federal Reserve.
2. Ripple CTO says XRPL will focus on the tokenisation of real-world assets and predicts the market will grow to US$16 trillion in tokenised assets.
6. XRPL memecoin mania
Memecoins are pumping on XRP Ledger, with XRP ARMY leading the charge (up 200% this week).
Other popular coins include PHNIX, LIHUA and PONGO.
As the price of XRP goes up, people might rotate their profits into XRP NFTs and meme coins.
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