XRP saw its price jump 21% over the last seven days and 13% over the last 24 hours, trading at $2.69 as of press time—just as the Ripple USD (RLUSD) stablecoin launches on the network.
XRP, which was created by Ripple Labs’ co-founders in 2012 and is not issued by them, has been a hot topic among crypto traders. Crypto traders are aware of the link, and they tend to look at good news about Ripple Labs like their new stablecoin getting approved by New York regulators as an indication that the price of XRP will rise.
Alex Obchakevich is the founder and CEO of Obchakevich Research. Decrypt The following are some examples of how to use “XRP has the largest growth over the past week among the top 10 cryptos” Bitcoins’ 10% growth over the same period was significantly outpaced by its own.
“XRP has been consolidating in this bull flag for a while, but once it clears the $2.60 resistance, I think it’s off to the races, heading toward $4,” He added.
Over-the-counter trading desk principal at Wintermute, Jake Ostrovskis, told Decrypt The following are some examples of how to use “XRP has benefited from being 'known' in retail circles, whilst bullishness around the new U.S. administration is leading traders to front-run a potential ETF [exchange traded fund] launch.”
These comments come after a filing made by New York-based asset manager WisdomTree in late November, which makes it the latest company to express interest in launching an XRP ETF spot product.
Adam O'Neill, chief marketing officer at Bitrue exchange, told Decrypt The following are some examples of how to use “with XRP ETFs also a likely event in 2025 we would anticipate a new all-time high for this coin by end of Q1 at the latest.”
The platform also expects “a boost in demand for XRP through 2025 because so many pieces are falling into place.” The CEO of the company highlighted that it has been fighting regulators for years. “now appear to be a thing of the past” It is a cryptocurrency. “set to be a major beneficiary from Trump's pro-crypto administration.”
O'Neill also pointed out that XRP is “receiving a wide amount of attention from both crypto-centric as well as traditional media for their 400% price increase in the last ~6 weeks.”
Ripple will launch today its RLUSD Stablecoin, and some analysts believe that it is driving the market demand for XRP.
Obchakevich claimed that “launch of RLUSD will also play an important role, which will allow Ripple to consolidate its position in the market and continue its growth.”
“According to my forecasts, RLUSD will enter the top 100 cryptos in the first days with a market cap of more than $1 billion,” He added.
O'Neill also pointed out that Ripple USD transactions “burn a small amount of XRP as a gas fee, which over time will increase XRP's scarcity and translate to higher prices for the coin.” He thinks that “the successes of these two assets are intertwined and investors have picked up on this connection.”
Stacy Elliott is the editor.