XRP breaks through $2.88 for the first time in seven years
2025-01-09 09:32:13
The price of XRP by Ripple has reached $2.88 for the first time since January 2018. Analysts at Santiment believe that the main driver of the growth was large-scale purchases by major players. Experts highlighted significant accumulation of the asset in wallets holding between 1 million and 10 million XRP. Since November 12, 2024, whale addresses have increased their holdings by 1.43 billion coins, accounting for 37.4% of their total balances.Sean Dawson, Head of Research at Derive Protocol, explained that the positive price trend is likely linked to expectations of XRP-ETF approval in 2025.JPMorgan analysts believe that capital inflows into spot exchange-traded funds based on SOL and XRP may surpass those of Ethereum-based instruments within six months of launch.Dawson also noted that as Bitcoin gets “bought up,” investor interest may shift toward altcoins, particularly XRP, which could support further growth.He added that due to the U.S. government's new crypto policy, the legal battle between Ripple and the SEC — ongoing since late 2020 — may finally be resolved this year.
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