Ripple's XRP has experienced a notable surge, driven by a combination of market optimism and strategic business moves. The cryptocurrency recently became one of the top five by market cap, surpassing Binance's BNB Coin. This rise is attributed to Ripple's business expansion and favorable regulatory developments, including a court ruling against the SEC's claims that XRP retail sales violated securities laws. Additionally, the rebranding of XRP's exchange-traded product to the Bitwise Physical XRP ETP has renewed investor interest, further boosting its momentum.
The broader crypto market rally, which saw the total digital asset market cap reach a new peak of $3.5 trillion, has also played a role in XRP's ascent. Ripple's introduction of its RLUSD stablecoin on the XRP Ledger and Ethereum, along with potential changes in SEC leadership, have contributed to the positive sentiment surrounding XRP. Analysts suggest that XRP's price could soon test the critical $1.95 resistance level, reflecting the growing confidence in its potential.
XRP's price has increased by 3.08% today, reaching a new 52-week high of $1.853724.