XRP Rallies As ETF Hopes Boost Market

XRP led gains among the top 15 altcoins over the past 12 hours as the cryptocurrency market regained momentum. According to CoinGecko data, XRP increased by over 7%, approaching $2.50 earlier today. This surge is attributed to recent political developments in the United States and activity surrounding exchange-traded fund (ETF) applications.

President Donald Trump’s promise of $2,000 stimulus checks for citizens and statements suggesting a government reopening bolstered investor confidence. Updates to XRP ETF applications from major firms including Bitwise, Franklin Templeton, 21Shares, Canary Capital, and CoinShares further fueled market optimism. These applications appearing on the Depository Trust & Clearing Corporation (DTCC) lists suggest a potential acceleration of the ETF approval process, with some experts speculating that approvals could arrive within days if the government shutdown ends.

Cryptocurrency analyst CW stated XRP has reached a “turning point” and is rebounding from its low. The analyst predicts a strong upward trend, potentially reaching a new all-time high in the “Phase 4” stage. Another analyst, CRYPTOWZRD, noted a slight bullish engulfing pattern in the XRP/BTC pairing, suggesting that a potential drop in Bitcoin’s $106,441.90 market dominance could propel XRP’s momentum.

Recent Glassnode data indicated that long-term XRP holders had engaged in profit-taking, but the last 24 hours’ price action suggests this selling pressure has diminished and market sentiment has turned positive.

Other significant altcoins such as Solana (SOL) and Cardano (ADA) also saw increases, with SOL rising around $0.593425, representing gains of 4% to 6%. Solana has been particularly notable, experiencing increased transaction volume and corporate interest, making it one of the best-performing assets on a weekly basis. Analysts attribute this broader recovery to both ETF expectations and a positive shift in investor psychology.

XRP’s recent rally presents a promising outlook, supported by both technical indicators and macro developments. Approval of ETF applications could initiate a new bull cycle for XRP. However, short-term volatility is expected, and investors should proceed with caution. The long-awaited “ETF effect” may soon be tested with XRP.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.