Could $XRP
Skyrocket if SEC Approves an ETF? The Potential for ATH
XRP Price Update:
Ripple’s XRP has experienced a notable surge following a
positive development in its ongoing legal battle with the SEC.
The latest victory came when the court agreed to seal sensitive documents regarding Ripple’s motion for summary judgment,
sparking a brief rally for XRP. At present, XRP is trading at
$2.8299, reflecting a 9.07% increase, with positive momentum
showing in the weekly (+4.8%), 14-day (+20.3%), and yearly
(+342.4%) charts, despite a slight dip of 0.5% on the daily chart.
Bullish Outlook for XRP: This recent legal win could signal the beginning of a bullish trend for XRP, especially with external events potentially fueling the asset's momentum. One such event is the upcoming inauguration of President-elect Donald Trump on
January 20, 2025, which has sparked some optimism in the
market due to Ripple’s CEO recently meeting with Trump. This
connection has led some to believe that XRP could see
considerable growth this year. Additionally, the WisdomTree
filing for an XRP ETF has garnered significant attention, signaling that an XRP ETF approval could potentially propel the asset to
new heights.
What Could an XRP ETF Mean for the Price? If an ETF approval
follows the path of Bitcoin’s (BTC) success, we could witness a
similar surge in XRP’s value. Bitcoin experienced a massive rally, increasing by 82.5% after its ETF approval, with the price
reaching a new all-time high of $73,000 from about $40,000 in
January. If XRP undergoes a comparable rally, the price could
skyrocket to $4.61. However, it’s important to note that not all
cryptocurrencies have experienced the same level of growth
post-ETF. For instance, Ethereum’s (ETH) ETF approval last year didn’t result in significant price movement, and XRP might not
follow the same trajectory as Bitcoin.