XRP, an altcoin backed by Ripple Labs, has shown noticeable price growth in recent days amidst the evolving landscape of the cryptocurrency space.
XRP Price Surge
XRP surged by 5% in the last 24 hours, reaching a level above $3.04 during trading on Wednesday, July 16. The altcoin has a fully diluted market cap of about $304 billion and has reached a 24-week high, flipping Tether (USDT) in market capitalization.
Fundamental Growth Factors
The current XRP pump is largely supported by robust fundamental factors, both internal and external. Ripple Labs is nearing the conclusion of its four-year lawsuit with the U.S. SEC, which will provide XRP with much-needed regulatory clarity. Additionally, the company announced a partnership with Ctrl Alt and the Dubai Land Department to tokenize property titles on the XRPL blockchain. Positive sentiment is also bolstered by the procedural advancement of cryptocurrency bills, including the GENIUS Act.
Future of XRP
From a technical analysis standpoint, XRP price has successfully broken out of a bullish flag and is on the cusp of entering its euphoric phase of the 2025 bull rally. If trends persist, XRP price could rally beyond $10 fueled by regulatory clarity and rising demand from institutional investors.
XRP continues to capture the attention of the cryptocurrency community due to its strengthening position and positive fundamental factors, which may pave the way for further growth.
