XRP strengthens its market presence with the recent filing for a spot XRP ETF by Wisdom Tree and several other factors.
Wisdom Tree's ETF Filing
Investment firm Wisdom Tree has filed for a spot XRP ETF, impacting the current price action of the cryptocurrency. With $100 billion in assets under management, the approval could significantly boost XRP's liquidity. Wisdom Tree is the fourth entity to file for a spot ETF for the cryptocurrency.
Appointments and Political Changes
Crypto strategist Levi suggests the development of ETF processes may accelerate from early 2025 with the pro-crypto Trump administration taking office. Scott Bessent's expected appointment as Treasury Secretary may also support market growth. Ripple CEO Brad Garlinghouse sees these changes positively, stating 'all boats rise.'
XRP and Cryptocurrency Forecasts
Investors predict significant shifts in the crypto market, with XRP standing out among cryptocurrencies. Analysts suggest XRP could surpass Ethereum. On December 2, 2024, XRP became the third-largest cryptocurrency, with expectations for continued growth. However, there are unconfirmed rumors on social media about a set high price for XRP by banks.
The incoming XRP ETFs and political changes may be catalysts for new peaks in the crypto market. 2025 is expected to bring significant shifts that may greatly impact XRP's positioning and value.
