Ripple's currency (XRP) is experiencing strong momentum after surpassing $2.41, driven by several influential factors in the near term, opening the door for the possibility of continuing to rise towards higher levels, such as $2.50 and perhaps more.
1. Encouraging legal updates
One of the main drivers behind XRP's rise is the recent development in its dispute with the U.S. Securities and Exchange Commission (SEC), where the agency filed a request to review the previous court ruling, which observers considered a sign that a resolution or settlement of the dispute is approaching. If this step materializes, it could open the doors for XRP to return strongly to U.S. markets and expand its uses.
2. Anticipation for the launch of a spot ETF for XRP
Expectations have increased regarding the possibility of a spot exchange-traded fund (ETF) for Ripple's currency during the year 2025. Such a step could be pivotal, as it allows major institutional investors direct access to the currency, similar to what happened with Bitcoin recently. Any official announcement in this regard could push the price towards unprecedented levels.
3. Huge movements from major investors
On May 9th, over 370 million XRP units were transferred, in transactions likely attributed to the wallets of major investors, commonly referred to as 'whales'. Additionally, the percentage of addresses holding between 1 million to 10 million XRP increased from 8.24% to 9.44% in just three months, indicating significant interest from entities with substantial capital in the currency.
4. High trading activity
XRP has recorded high trading volumes in recent days, reaching $5 billion, a figure that reflects the growing public interest in the currency and increased demand in the markets.
Conclusion:
XRP currently stands on the brink of a new phase that could change its position in the global digital market. With the possibilities of legal settlement, expectations regarding the ETF, and increasing interest from major investors, it seems that the path may be paved to reach $2.50 and perhaps more in the near future.