Latest XRP Update: Key Factors Impacting Ripple's Value

XRP's price saw a 6% increase this week, although it lagged behind other top 10 cryptocurrencies by market capitalization. However, five recent factors may impact its long-term value. Firstly, XRP surpassed Ethereum's fully diluted market cap for the first time in April, making it the second-largest asset of its kind.

Secondly, the appointment of Paul Atkins as the new SEC Chair, a well-versed figure in cryptocurrency, may resolve Ripple Labs' legal issues with the SEC.

Thirdly, Coinbase's launch of a CFTC-regulated XRP futures product could indicate new price support. Fourthly, 'crypto whales' are buying XRP, thus increasing the demand and possibly its price. Finally, Ripple's daily active addresses have surged 67%, a positive sign for the token's market valuation.