XRP is making headlines today as its price jumps from $2.42 to $2.76, marking a 14% increase in just a few hours.
This surge comes as most major cryptocurrencies, including Bitcoin and Ethereum, see only slight gains. While BTC and ETH are up just 1%, XRP is leading the market rally with a strong performance.
SEC’s Recognition of the XRP ETF Filing
One of the biggest reasons behind XRP’s surge is the SEC’s acknowledgment of Grayscale’s XRP ETF filing. The regulator has officially recognized the NYSE’s 19b-4 filing, a step that brings XRP closer to an ETF approval.
Although this does not mean immediate approval, it signals that the SEC is willing to consider the application. In the past, the SEC rejected altcoin ETFs, but the new leadership under Acting Chair Mark Uyeda appears more open to crypto-based products.
This development has sparked massive excitement in the XRP community, as an approved XRP ETF could drive institutional investments into the asset, further boosting its value.
Speculation of Ripple Lawsuit Settlement
Another major reason for XRP’s strong rally is speculation that the SEC might be preparing to drop its lawsuit against Ripple. The legal battle has lasted four years, creating uncertainty around XRP’s status.
Many XRP supporters see the SEC’s ETF acknowledgment as a sign that a settlement could be near. If the lawsuit is resolved in Ripple’s favor, XRP could see even greater price gains in the coming months.
Ripple’s Growing Partnerships
XRP’s recent momentum is also supported by new partnerships. This week, Ripple announced a deal with Portugal’s largest currency exchange, signaling further adoption of XRP for payments.
Additionally, Japan’s SBI Remit expanded its international remittance service last week, further integrating XRP into cross-border payments. These developments increase confidence in XRP’s long-term utility, attracting more investors.
What’s Next for XRP?
With the SEC’s acknowledgment of the ETF filing and Ripple’s legal battle possibly nearing an end, XRP’s price could continue to climb. Analysts previously gave the XRP ETF a 65% chance of approval, but with today’s developments, the odds seem even better.
If XRP maintains its momentum, it could push past $3, setting the stage for further gains.
