XRP token soared a massive 6% in the past 24 hours after dropping to a low of $2.08 in the past 24 hours.
The heightened capitulation of XRP long traders in the last 24 hours has escalated the odds of a long squeeze In the coming days.
The sudden liquidation spree in crypto market cleans a bearish sweep across top cryptocurrencies. Amid the falling coins, XRP nears a crucial support trendline and a breakdown could trigger a major crash.
Following SEC’s dismissal of the Coinbase case, attention turns to the complex Ripple lawsuit, with Trump’s administration showing support while legal hurdles remain for swift resolution.
After successfully rebounding from the 2021 ATH, XRP is now well-positioned to enter its price discovery phase for the 2025 bull rally.
Mike Novogratz is convinced XRP and Cardano are among the industry leaders per their first-mover advantage.
The demand for XRPL products and services has increased in the recent past bolstered by Ripple Labs’ strategic partnership, thus bolstering macro bullish sentiment for XRP.
The highly anticipated end of the Ripple vs SEC lawsuit under the Donald Trump administration will further fuel XRP bullish growth toward price discovery.
Former SEC enforcement chief John Reed Stark has suggested that the US SEC may pause its appeal in the Ripple lawsuit, signaling a broader retreat from aggressive crypto enforcement.
The SEC has acknowledged Cboe BZX Exchange’s filing to list Bitwise XRP ETF, with analysts predicting high approval chances. The decision follows SEC’s implied classification of XRP as a commodity.
The XRP community is optimistic as Elon Musk’s DOGE reviews the SEC, fueling hope for regulatory reform and a potential XRP price rally.
The SEC has opened a public comment period for Bitwise’s XRP ETF proposal, signaling growing institutional interest in XRP despite its ongoing legal challenges with regulators.
XRP price gained 12 percent last week to trade at about $2.68 on Monday, thus overtaking Tether’s USDT in market valuation.
The SEC, previously dismissive of similar proposals, appears more open under the current administration.
The US SEC acknowledged the 19b-4 filing of Grayscale XRP Trust, which increased the odds of the agency approving a spot XRP ETF in the near future.