A company that is changing the way the world mines bitcoin

Crypto Potato 2025-02-15 08:43:01

Ripple (XRP) Price Explodes to Two-Week High: Here’s Why

TL;DR XRP briefly surpassed $2.80, driven by the SEC’s acknowledgment of 21Shares’ XRP ETF application. Analysts predict further gains, with targets ranging from $2.94 to $3.03 if the price maintains momentum above key support levels. The Rally Goes on Ripple’s XRP has been at the forefront of gains in the past few days, outperforming most cryptocurrencies from the top 20 club. Its price charted another 8% increase on a 24-hour scale, briefly rising to a two-week high of $2.82 (per CoinGecko’s data) before slightly retracing to the current $2.76. XRP Price, Source: CoinGecko The US SEC’s decision to acknowledge 21Shares’ application to convert its XRP Trust into an exchange-traded fund (ETF) is the most likely factor fueling the pump. E arlier this month, the securities regulator acknowledged a similar proposal filed by the world’s biggest digital asset manager – Grayscale. The aforementioned developments mean the SEC has officially received the applications and started a formal review process, which usually lasts up to 240 days. In the end , the watchdog must either approve or deny the ETF filings. A potential green light would give investors additional options to gain exposure to XRP’s price movements, providing a level of protection and oversight. It also removes the burden of having to buy, store, or secure the cryptocurrency directly. Meanwhile, a possible approval could also indicate that the SEC has embraced an entirely different approach toward the digital asset industry. Recall that the agency was not that friendly during Gary Gensler’s tenure, filing countless lawsuits against crypto businesses such as Ripple. The former Chairman resigned on January 20 and was succeeded by Mark Uyeda, who seems much more open to innovation and positive toward the cryptocurrency industry. XRP’s Next Potential Targets According to multiple market observers, the asset’s price has much more room for growth. The X user CRYPTOWZRD noted that XRP closed the previous day “strongly bullish,” expecting a further uptrend toward the $3.03 resistance target and beyond. Others who recently contributed include Ali Martinez and EGRAG CRYPTO. The former predicted a rise to $3 as long as the price held steady above $2.30. The latter suggested that “a strong close” above $2.75 could result in a local high of $2.94. “Remember, anything below $3.40 is merely noise in the market,” the analyst added. The post Ripple (XRP) Price Explodes to Two-Week High: Here’s Why appeared first on CryptoPotato .

Наиболее читаемые новости

Uncertain Times: Smart Crypto Investors Hedge...
2025-02-21
Japanese Investment Firm Metaplanet’s Bitcoin...
2025-02-21
Ethena assures users of solvency after Bybit...
2025-02-21
Coinbase Set to Boost Innovation with $50 Mil...
2025-02-21
Revolutionizing Fan Engagement: UXLINK’s Web3...
2025-02-21
SEC Drops Enforcement Lawsuit Against Against...
2025-02-21
Dollar Dominance: How Trump Tariffs Trigger I...
2025-02-21
Bybit CEO Discusses Future Withdrawals and Br...
2025-02-21

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения