XRP Surges 21% Amid Ripple's Stablecoin Launch and ETF Speculation
XRP has seen a significant rally, climbing 21% over the past week and 13% in just the last 24 hours, reaching $2.69. This spike coincides with Ripple’s launch of the Ripple USD (RLUSD) stablecoin, signaling renewed optimism in the crypto market.
Although Ripple Labs has emphasized its non-issuer status of XRP since its co-founding in 2012, the market often links the token’s performance to Ripple's developments. The recent approval of the RLUSD stablecoin by New York regulators appears to be fueling bullish sentiment around XRP.
Experts Weigh In on XRP’s Momentum
Crypto market analysts note that XRP's 21% weekly growth significantly outpaces Bitcoin’s 10% gain over the same period. Many believe XRP’s price could continue climbing, potentially rallying toward $4 after breaking through the $2.60 resistance.
Some analysts also attribute XRP’s rise to its strong recognition among retail traders and growing speculation around potential XRP-based exchange-traded funds (ETFs). This optimism is bolstered by recent ETF filings, including a late-November submission by asset manager WisdomTree.
Market Outlook for XRP
Experts suggest XRP could achieve a new all-time high by Q1 2025, driven by increasing demand and a favorable regulatory climate. Ripple’s legal challenges are now largely behind it, and the current pro-crypto administration may further support the token’s growth.
Ripple’s RLUSD stablecoin launch is also expected to have a significant impact. Forecasts suggest RLUSD could quickly rank among the top 100 cryptocurrencies with a market cap exceeding $1 billion.
XRP’s Scarcity and Price Growth
Analysts highlight that RLUSD transactions burn small amounts of XRP as gas fees, which could increase the token’s scarcity over time and contribute to higher prices. This interconnection between XRP and RLUSD is seen as a key factor attracting investor interest.
With XRP gaining attention from both crypto-centric and traditional financial sectors, its 400% price increase over the past six weeks demonstrates its growing influence. Ripple’s strategic initiatives, coupled with regulatory clarity and ETF potential, suggest XRP’s upward trajectory may continue.