XRP has surged by over 8% in the last 24 hours, reaching $1.67. This rise outperformed Bitcoin and other major altcoins. Meanwhile, Bitcoin held steady above $96,000 after a dip to $91,000 earlier this week.
Minimal Movement in Other Cryptocurrencies
While XRP surged, other major cryptocurrencies such as Ether (ETH), Solana’s SOL, and BNB saw little change. Cardano’s ADA rose by 3.5%, while Dogecoin (DOGE) slipped 1.2%. Algorand (ALGO) and Worldcoin (WLD) made notable gains, climbing over 15% in the last 24 hours, according to Coingecko.
Renewed Optimism Around XRP
The recent surge in XRP is fueled by renewed optimism. The potential change in SEC leadership has sparked hope among the XRP community. Gary Gensler, the current SEC chair, has led the legal battle against Ripple but is set to leave his position. The possibility of a more crypto-friendly SEC under Donald Trump has raised hopes that the lawsuit could soon end.
WisdomTree’s XRP ETF Registration Boosts Market Sentiment
Global asset manager WisdomTree, which manages $113 billion in assets, registered an XRP ETF in Delaware earlier this week. The company will file an S-1 with the SEC, which could further boost XRP’s price. This development adds momentum to XRP’s positive outlook.
Ripple’s New Tokenized Money Market Fund
Ripple recently announced the launch of a tokenized money market fund on the XRP Ledger. This project is in collaboration with UK-based digital asset exchange Archax and asset manager Abrdn plc. The initiative is designed to enhance Ripple’s position in the digital asset market.
Bitcoin’s $100K Rally Faces Challenges
Bitcoin’s rally toward $100,000 stalled after traders locked in profits last week. However, optimism around regulatory changes under Trump tempered the losses. Trump has proposed moving crypto oversight from the SEC to the Commodity Futures Trading Commission (CFTC). Additionally, Trump’s nomination of Scott Bessent as Treasury Secretary has added fuel to the positive sentiment in the crypto market.
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