XRP Soars to $3 as Ripple’s Legal Win and Speculation of XRP ETF Drive Surge

XRP, the native token of the XRP Ledger network linked to Ripple, reached a new seven-year high on Thursday as positive market sentiment, including a win in Ripple’s ongoing legal battle, combined with growing speculation over the potential launch of a spot XRP ETF, fueled the surge. The token briefly hit $3, its highest price since 2018, before settling slightly below at $2.98, marking a 12% rise over the last 24 hours.

The rally has been bolstered by news that Ripple is on the verge of launching its long-awaited stablecoin, RLUSD, and increasing partnerships that position the company for growth under more favorable regulatory conditions in the U.S. Additionally, the ongoing speculation about a potential spot XRP ETF approval has kept investors bullish on the token.

This spike has positioned XRP as the third-largest cryptocurrency by market capitalization, trailing only Bitcoin (BTC) and Ethereum (ETH). With a market cap of $180 billion, XRP has surpassed major financial institutions in market value, including BlackRock. Analysts predict that further institutional adoption, paired with potential ETF approval, could push XRP to new highs, especially if it breaks past its 2018 peak.

The increase in large-holder addresses holding between 1 million and 10 million XRP is also contributing to the momentum, with such addresses acquiring an additional $4 billion worth of tokens since November, signaling continued institutional confidence in the token’s growth trajectory.