XRP Surges 2.54% as Ripple Banking License Bid and Grayscale ETF Approval Drive Market Momentum

XRPUSDT has experienced a 2.54% price increase over the past 24 hours, currently trading at 2.2630 USDT on Binance. This upward movement is primarily attributed to recent developments, including Ripple's application for a U.S. national banking license and access to a Federal Reserve master account, as well as the approval of a Grayscale ETF that includes XRP. Additionally, the release of 500 million XRP from escrow, with 300 million allocated to on-demand liquidity and ecosystem projects, has contributed to heightened market activity and investor interest.

XRP maintains a strong market position with a market capitalization of approximately $134 billion and a 24-hour trading volume ranging from $1.01 billion to $2.24 billion. The asset is consolidating within a narrow price range, reflecting a period of low volatility as the market digests these significant developments and awaits further catalysts.