#MarketRebound

In recent weeks, it appears that $XRP has remained relatively stable at a price of US$ 2.10. Meanwhile, the overall cryptocurrency market is also experiencing a strengthening. This increase is happening amid a weakening $USD index and growing optimism about the future of Ripple.

Some analysts still see that $XRP will return to the level of US$ 3.00 with several indicators supporting this increase.

1. The long-standing legal battle between Ripple and the SEC has now entered its final stages. Both parties have agreed to halt the appeal process, which means an agreement could be reached soon.

2. Ripple, as the developer of XRP, continues to develop technology. One of them is the launch of RLUSD, a dollar-based stablecoin commonly used on the XRP Ledger (XRPL) and Ethereum (ETH).

Additionally, a feature called Hooks is currently being tested. This feature allows for core functions like smart contracts on the XRPL, meaning decentralized finance (DeFi) applications can be built on this Ripple network.

3. $XRP was essentially created to facilitate cross-border transactions quickly, cheaply, and securely. Currently, Ripple operates in over 70 countries with a product called On-Demand Liquidity (ODL). Ripple is also expanding its network, particularly in Africa, Southeast Asia, and Latin America. Even banks in the Middle East and Europe are starting to test RippleNet to complete their transactions.

4. Banking data shows that institutional wallets have been consistently buying XRP over the last two quarters.

This indicates that $XRP is beginning to be seen as a long-term strategic asset by financial industry players.

5. Recently, the investment firm CoinShares submitted an ETF proposal for $XRP and Litecoin on NASDAQ. If this ETF is approved, the demand for $XRP could increase drastically, similar to what happened to Bitcoin after its ETF was approved.