XRP Surges Over $2 Amid Positive Regulatory Sentiment
- XRP rose above $2 for the first time since mid-December, marking an increase of approximately 8%.
- On January 2, U.S. spot XRP ETFs attracted $13.59 million, bringing total inflows to $1.18 billion since launch.
- The surge in XRP’s price is attributed to improved U.S. regulatory sentiment following SEC Commissioner Caroline Crenshaw’s departure.
- A potential markup of the Market Structure Bill on January 15 has heightened expectations for favorable policy changes.
- In contrast, demand for Bitcoin funds has weakened, indicating that XRP’s rally is driven by token-specific factors rather than a broader market trend.
The recent rise in XRP’s value highlights a shift in market dynamics influenced by regulatory changes and strong ETF inflows, contrasting with the mixed performance of other major cryptocurrencies like Bitcoin and Ethereum.
Currently trading just over $2, XRP’s price increase coincides with significant ETF inflows totaling $1.18 billion since inception, showcasing strong investor interest.(Source)
