Here’s Why XRP Price Can Go Up Today
Highlights
- XRP price has recorded a surge of over 4% today, indicating strong market confidence.
- Recent market trends hints that the rally for Ripple's native asset may continue.
- The Ripple Vs SEC case end could significantly boost the XRP price ahead.
XRP price has recorded a surge of over 4% today, indicating a positive momentum hovering in the broader crypto market. Besides, a flurry of recent market trends indicates that Ripple’s native asset might continue its rally in the coming days. So, here we explore some of the top factors that may push the asset’s price higher going forward.
XRP Price Soars 4%: Breakout Incoming?
XRP price soared more than 4% today and exchanged hands at $2.26, while its one-day volume fell 16% to $5.61 billion. Notably, the crypto has touched a 24-hour high and low of $2.28 and $2.14, respectively. Despite the recent volatile trading, it appears that Ripple’s native asset is gearing up for a robust rally ahead.
CoinGlass data showed that XRP Futures Open Interest rose nearly 8% today, indicating the regaining confidence of investors. Besides, the recent market trends also hint towards a continuing rally ahead.
Ripple Expands Into UAE Market
In a significant development, Ripple has announced its entry into the UAE markets, having secured the coveted DFSA License. This milestone marks Ripple’s first license in the Middle East, enabling the company to offer its cutting-edge cross-border crypto payments services in Dubai.
The UAE’s strategic location as a global hub for international trade and outbound finance, with a massive market size exceeding $400 billion, is expected to fuel XRP’s adoption. This, in turn, has bolstered investor confidence, setting the stage for a potential price surge.
As Ripple’s presence in the UAE grows, XRP price is likely to benefit from increased adoption and demand. With the broader crypto market exhibiting positive momentum, XRP is poised to capitalize on this trend.
Ripple SEC Settlement Bets
A significant development that’s contributing to the latest XRP price surge is the impending resolution of the long-running legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC).
According to renowned crypto journalist Eleanor Terrett, Ripple’s legal team is pushing for better terms than the August 2024 District Court ruling, which imposed a $125 million fine on the firm for violating Federal Securities Laws. She also predicted that the Ripple Vs SEC case could be concluded soon.
Legal expert Fred Rispoli has downplayed the role of the SEC’s delay in resolving the XRP lawsuit, stating that the case’s resolution is simpler than anticipated. This optimism has contributed to the positive momentum surrounding XRP’s price.
XRP ETF Gains Momentum
Asset management giant Franklin Templeton’s recent filing for an XRP ETF has sparked excitement within the XRP community. The fund, which will be custodied by Coinbase Custody Trust Company, marks a significant development in the evolving crypto ETF landscape.
This development also fueled speculation that a spot XRP ETF filing from BlackRock, the world’s largest asset manager, could be on the horizon. This potential development has sparked optimism among XRP investors, who believe that a high-profile ETF filing could accelerate the approval process. Considering all these aspects and the recent surge, it appears that the XRP price is poised to continue its rally in the coming days.
- XRP Treasury Holdings Hits $11.5B as Nasdaq-Listed Reliance Global Adds $17M in Fresh Buy
- FOMC Minutes, Jerome Powell Speech: Will Bitcoin Recover or Retrace Further?
- “Meme Coin SZN Is Here,” Says CZ As GIGGLE, 4 Price Skyrocket to All time Highs
- CZ’s YZi Labs Commits $1 Billion Builder Fund As Binance Coin Surpasses XRP
- Expert Sees LTC Crashing to $50 Even As Litecoin ETF Approval Reaches Final Stage
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone
- Cardano Price Consolidates Below Key Resistance Ahead of ETF Verdict — Is a 50% Rally in Sight?
- Solana Price Eyes 56% Rebound Amid Solana Company’s Massive $530M SOL Acquisition
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
