Why is the Ripple (XRP) price raised today?

TL; D

• Ripple (XRP) outperformed other main encrypted currencies with a daily increase of 6 %, driven by Brazil’s approval of the first XRP ETF site in the world and other potential factors.
• Such a product may also see daylight in America, where the American SEC recognizes Grayscale, 21shares and BitWise applications.

XRP outperforms its competitors

The cryptocurrency market has witnessed a slight revival during the past 24 hours, with Bitcoin (BTC), ETHEREM (ETH), Solana (Sol), and other leading digital assets that witness simple gains.

However, Ripple’s XRP is the best performance in the best 20 ClubRegister 6 % increase in prices. It briefly up to a local summit of $ 2.74 before settling at the current $ 2.71 (per Coingecko data).

one major The development coming from Brazil maybe the probably The reason for fueling the assembly. The country’s securities organizer – Comica de Valuris Mobilius – consent The first XRP exchange box (ETF).

The investment vehicle allows investors to expose the asset without purchasing it from stock exchanges or anxiety about the self -body.

It should be noted that many well -known companies, such as Grayscale, BitWise, and 21shares, offered their intentions to launch such a product in America. US Securities and Stock Exchange Committee (SEC) Recognized Their applications, which means that they must agree to deposits or formally reject them in the following months.

Another factor positively affects the latest XRP return can be whale activity. Earlier this week, big investors Accumulated 150 million icons ($ 400 million) in extension 48 hours.

The ongoing efforts in this field will reduce the width of the currency, which may enhance its value (provided that the demand remains fixed). In addition, the movements of whales often inspire the smaller players to enter the ecosystem, bringing fresh capital.

Santiment encryption analysis platform recently estimated The number of whales and sharks XRP (those who carry more than 100,000 XRP) have increased by 261 in the past ten weeks. this It indicates that adult investors remain confident of the capabilities of future assets despite price fluctuations.

Reward: Trump’s effect

It should be noted that the XRP gathering can also be linked to some US President’s actions. like Cryptopotato I mentionedTrump recently published two articles on Ripple’s expansion on American soil since his presidential victory.

His interaction started huge Speculation through the XRP community, where some members see this as a catalyst for the price explosion of the distinctive symbol concerned.