XRP Could Reach $18 from $1.2: What’s driving the rally?
Vishakha Thakur
Ripple’s XRP token is on fire, surging over 55% since the past seven days and briefly hitting $1.6 mark …. the highest since May 2021. In fact, XRP surged over 175% in the last 14 days. As per market analysts, an all-time high for XRP …above $4…. might just be around the corner. Interestingly, Dark Defender, a crypto analyst, shared a technical analysis chart showing that the XRP price can rally to $18 by mid-2025.
But what’s driving this impressive rally?
The first reason is WisdomTree’s XRP ETP Launch….
Wisdom Tree, a Europe-based asset manager, has launched an XRP-backed exchange-traded product recently. The ETP, now trading across major European platforms, offers easier access to XRP for all the institutional investors.
Second factor seems to be Gensler’s SEC exit…
Yes, the entire crypto world turned euphoric after SEC Chair Gary Gensler announced that he would step down on Jan 20, 2025. XRP, long entangled in a legal battle with the SEC, soared 25% immediately after the news.
Interestingly, Ripple’s CEO Brad Garlinghouse called it a turning point….!!
In an interview with Fox Business, he mentioned, “The SEC was manipulating American companies and technologies, putting pressure on them. Now that this pressure is gone, they are exploding upwards.”
Of course, all these positive developments in the crypto need to be attributed to the optimism arising out of the incoming Pro-Crypto Trump leadership….
The upcoming Republican administration is reportedly filling key government roles with crypto-friendly personalities. This shift could pave the way for an XRP-specific ETF….!!
Overall, the likely regulatory changes, institutional adoption and renewed optimism are driving the price of XRP, and analysts see this positive trend as just the beginning.
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