Last 24 hours price XRP grew by almost 10%. The weekly figures are even more impressive - over 26%. According to experts, the cryptocurrency rate may exceed $3 in the short term.
Santiment analysts explain such rally in price XRP "continued massive accumulation" by large holders of the asset, whose wallets hold between 1 million and 10 million tokens. According to the company, starting on November 12, 2024 crypto whales bought 1,43 billion XRP .
From November 2024 "whales" XRP actively accumulating assets
Onchain Derive protocol research director Sean Dawson attributes the rapid growth XRP with possible approval of altcoin-based exchange-traded funds. A decision on the matter is expected XRP - ETF may be adopted this year.
He named the anticipation of the deadline for the appeal of the US Securities and Exchange Commission (SEC), which is scheduled for today, as another compelling reason for the asset’s growth.
Court battles XRP with the SEC could also end this year in favor of the former, Dawson believes.
The Commission's new leadership, like President-elect Donald Trump's administration, will be more crypto-friendly. That could ultimately decide the SEC's case against XRP in favor of the crypto company, the analyst is sure.
