XRP’s price soared 21% in the past week and 13% in the last 24 hours, reaching $2.69. The surge aligns with the launch of Ripple’s new stablecoin, Ripple USD (RLUSD), on its network. Though Ripple Labs—founded in 2012—denies issuing XRP, the market sees a connection. Traders link positive developments for Ripple, like New York’s approval of the RLUSD stablecoin, to XRP price hikes.
Alex Obchakevich, founder of Obchakevich Research, highlighted XRP’s strong performance. “XRP showed the largest growth among the top 10 cryptos, far outpacing Bitcoin’s 10% increase,” he stated. He also predicted a bullish future, saying, “Once XRP clears the $2.60 resistance, it’s likely heading toward $4.”
Source: CoinMarketCap
Investor Sentiment and ETF Speculation
Investor sentiment around XRP remains strong, partly fueled by speculation about a potential XRP exchange-traded fund (ETF). Wintermute’s over-the-counter trading desk principal, Jake Ostrovskis, noted that retail investors recognize XRP’s potential. He linked the excitement to growing optimism about a possible ETF launch under the new U.S. administration.
Related article: XRP Market Shaker: Massive Whale Movement Sparks Buzz
Recent filings from New York asset manager WisdomTree have fueled speculation. By registering interest in launching an XRP spot ETF, WisdomTree joined a growing list of firms betting on the token’s potential.
Bitrue exchange’s chief marketing officer, Adam O’Neill, predicted an all-time high for XRP by Q1 2025. He attributed the rise to improving regulatory clarity and the anticipated demand for XRP ETFs. “XRP’s regulatory battles seem to be behind it, and Trump’s pro-crypto stance strengthens its future,” O’Neill noted.
Media Buzz and Price Growth
XRP’s 400% price increase over six weeks caught the attention of both crypto-focused and mainstream media. The heightened coverage further bolstered investor interest.
Related article: Could XRP Surpass the $4 Mark? A $100 Million XRP Accumulation by Whales
Ripple’s RLUSD stablecoin is set to launch today, with many analysts linking it to the recent price surge. Obchakevich sees RLUSD as a key growth catalyst, predicting it will enter the top 100 cryptos with a $1 billion market cap within days. “This launch strengthens Ripple’s market position,” he said.
Ripple USD transactions burn small amounts of XRP as gas fees, reducing supply over time. O’Neill expects this mechanism to increase XRP’s scarcity and support higher prices. He emphasized the connection between XRP and RLUSD’s successes, saying investors have taken notice of their intertwined growth potential.
