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Yesterday, the XRP price hit a new all-time peak of $3.38. With a growth of 42.1%, in the last seven days, the market has outperformed almost all the top ten cryptocurrencies, including Bitcoin, Ethereum, BNB, Solana, and Dogecoin.
The massive surge has captured the attention of the entire cryptocurrency market. Speculations around spot ETF approval and rumours related to regulatory changes under Trump’s administration have played a key role in shaping the new trend.
In the last 24 hours alone, the XRP market has experienced a growth of 6.3%. On January 15, the market recorded a significant single-day growth of 17.14%. On January 16, the market touched a peak of $3.38. In the last 24 hours, the market has outperformed all the top ten cryptos.
Spot XRP ETF: A Game-Changer?
AI platforms like ChatGPT and Grok forecast $5 to $10 price levels with moderate ETF-driven inflows. Reports indicate that in an extremely bullish scenario, XRP could hit $50 to $100 price ranges. Reports also highlight the significance of institutional investment.
According to JPMorgan, if an XRP ETF is approved, the market can expect $3 billion to $8 billion in capital inflows. Several prominent investment firms, such as Bitwise, 21Shares and WisdomTree, have submitted their applications seeking approval for their spot XRP ETF products.
Interestingly, prominent crypto analysts like TheCrypticWolf and CrediBULL Crypto suggest that XRP could hit $10 to $20 during the current crypto bullish cycle.
Trump’s Victory and Regulatory Optimism
In the US presidential election, Donald Trump, who presented himself as a pro-crypto candidate promising policies necessary to promote the growth of the sector, defeated Kamala Harris, who represented a crypto-skeptic regime.
Trump is set to take the oath as the president on January 20, 2025. Crypto enthusiasts believe that the new US administration will introduce many pro-crypto policies.
There are rumours that Trump is considering the possibility of including XRP and Solana in the proposed US crypto reserve.
In conclusion, XRP’s recent rally and the excitement around spot ETF approval highlight the dynamic relationship between regulation, market sentiment and institutional interest. As crypto-friendly policies take shape, XRP’s future holds both promise and caution.