XRP Cryptocurrency Hits New Peak Due to ETF Buzz

user avatar

by Giorgi Kostiuk

2 years ago

XRP, the third-largest cryptocurrency by market capitalization, has seen a significant increase, rising over 12% in the past day.

XRP Price Surge

According to CoinGecko data, the token reached an intraday high of $2.87, its highest level since December 3. This spike is attributed to ongoing ETF rumors.

ETF Market Impact

Anticipation around an ETF grows following a prediction from JPMorgan, suggesting that an XRP-backed ETF could attract up to $8 billion in investments.

Analytics and Forecasts

Santiment analytics highlights that the current rally is supported by 'continued enormous accumulation' among crypto wallets holding between 1 and 10 million tokens. These wallets now hold 37% more coins than they did two months ago. Additionally, the upcoming resignation of SEC Chair Gary Gensler provides further market dynamics.

XRP is now only 16% away from reaching a new all-time high after seven years, making its current position particularly noteworthy amid these unfolding events.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Federal Reserve Pauses Interest Rate Hike for Upcoming FOMC Meeting

The Federal Reserve is not expected to raise interest rates at the upcoming FOMC meeting, as indicated by recent forecasts and comments from Fed officials.

user avatarMaria Fernandez

Citigroup Increases Price Targets for Bitcoin and Ethereum

Citigroup has raised its 12-month price targets for Bitcoin to $113,000 and for Ethereum to $3,028, citing stronger activity in crypto markets and ETF inflows.

user avatarGustavo Mendoza

TopNod Introduces Axil Pot APT for Enhanced Onchain Yield Management

TopNod has launched Axil Pot APT, a new onchain yield vault that allows users to earn an estimated 8% APY while maintaining instant liquidity.

user avatarRajesh Kumar

MEXC Expands Guardian Fund with Additional 1,000 BTC

MEXC has added another 1,000 BTC to its Guardian Fund, marking the second major allocation this year.

user avatarMiguel Rodriguez

HANetf and HSBC Launch First GBP EUR-Hedged Bitcoin Products

HANetf and HSBC have announced the launch of the first GBP EUR-hedged Bitcoin products, marking a significant development in the digital asset ecosystem.

user avatarLuis Flores

Goldman Sachs Integrates $100 Billion Treasury Fund with Crypto Institutional Frameworks

Goldman Sachs has announced the integration of its $100 billion Treasury Fund with crypto institutional frameworks, marking a significant development in the digital asset ecosystem.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.