XRP’s chances of hitting a record just skyrocketed. Here’s what’s driving the price

The renewed interest in XRP has coincided with the Securities and Exchange Commission’s disclosure on May 8 that it was settling its long-running case against Ripple and two of its senior executives.

The company had already jumped the gun, announcing the agency’s decision to drop the case in March.

“The SEC case outcome is the pivot point,” Oncu said. “Beyond that, broader adoption by financial institutions could drive demand.”

Spurred on by the Trump administration’s hands-off approach to crypto regulations, institutional investors have increased their XRP investments. If the SEC approves spot XRP exchange-traded funds, that could spur greater buying of the cryptocurrency.