{"id":44458,"date":"2025-02-14T08:30:39","date_gmt":"2025-02-14T08:30:39","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=44458"},"modified":"2025-02-14T08:30:39","modified_gmt":"2025-02-14T08:30:39","slug":"why-is-the-ripple-xrp-price-up-today-8","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=44458","title":{"rendered":"Why is the Ripple (XRP) Price Up Today?"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

XRP surged 10%, breaking market stagnation and surpassing Tether (USDT) to become the third-largest cryptocurrency.<\/span>
\nIts resurgence occurred shortly after the US SEC acknowledged Grayscale\u2019s application to convert its XRP Trust into an ETF.<\/p>\n

<\/a><\/span><\/h2>\n

Becoming a Top Performer Again<\/h2>\n

The cryptocurrency market hasn\u2019t shown much action in the past 24 hours, with most leading digital assets charting mild increases or consolidating at yesterday\u2019s levels (February 13).<\/span><\/p>\n

However, Ripple\u2019s XRP has defied the ongoing trend, with its price rising by 10% <\/span>on a daily scale<\/span>. <\/span>Currently,<\/span> it trades at $2.68 (per CoinGecko\u2019s data), while its market capitalization surged past $152 billion.<\/span> Thus, it became the third-biggest cryptocurrency, surpassing Tether (USDT).<\/span><\/p>\n

<\/a>XRP Price, Source: CoinGecko<\/p>\n

Perhaps the<\/span> most likely factor fueling the rally is the US SEC\u2019s <\/span>decision<\/span><\/a> to acknowledge Grayscale\u2019s application to convert its XRP Trust into an exchange-traded fund (ETF).<\/span> While this is a significant step forward, it does not guarantee the <\/span>approval of the product<\/span>.<\/span> The acknowledgment <\/span>is followed<\/span> by a review process that usually takes up to 240 days, during which the regulator will thoroughly evaluate the filing before making a final decision.<\/span><\/p>\n

A potential green light will give investors additional options to gain exposure to XRP without <\/span>the need to buy, store, or manage<\/span> the asset directly.<\/span> This<\/span> could attract more people into the ecosystem and positively impact the price in the long run.<\/span><\/p>\n

One person commenting on the SEC\u2019s recent move was Ripple\u2019s CEO \u2013 Brad Garlinghouse. He <\/span>reminded<\/span><\/a> that<\/span> he has repeatedly said such a development was \u201cinevitable.\u201d\u00a0<\/span><\/p>\n

Last year, the executive <\/span>claimed<\/span><\/a> that investors seek exposure to multiple cryptocurrencies (not only Bitcoin) via exchange-traded funds. Apart from a spot XRP ETF, he <\/span>also<\/span> predicted that the SEC could approve products with Solana (SOL) and Cardano (ADA) as underlying assets.\u00a0<\/span><\/p>\n

Potential Impact on the Ripple v. SEC Case?<\/span><\/h2>\n

The aforementioned move by the regulator has sparked <\/span>huge<\/span> enthusiasm across the XRP Army. Many believe the approval of the XRP ETF is now just a matter of time, while some have speculated that the SEC\u2019s positive stance could also transpire into the legal front.\u00a0<\/span><\/p>\n

The popular X user XRPcryptowolf <\/span>thinks<\/span><\/a> the securities watchdog wouldn\u2019t have acknowledged Grayscale\u2019s ETF application \u201cunless they were for sure going to drop the XRP case.\u201d\u00a0<\/span><\/p>\n

To the uninitiated <\/span>ones<\/span>, the lawsuit between Ripple and SEC dates back to December 2020.<\/span> Over the past few years, the company secured some partial court wins, <\/span>which seemingly tipped<\/span> the scales in its favor.<\/span><\/p>\n

Additionally, the crypto critic Gary Gensler (the previous Chairman of the SEC) <\/span>vacated<\/span><\/a> his post on January 20 and <\/span>was succeeded<\/span> by Mark Uyeda, who has an entirely different stance on the industry. <\/span><\/p>\n

Those changes have caused the Ripple community to predict a favorable resolution soon. <\/span>However, they should <\/span>keep in mind the complexity of the case<\/span> and have <\/span>somewhat<\/span> realistic expectations.<\/span>\u00a0<\/span><\/p>\n

The post Why is the Ripple (XRP) Price Up Today?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR XRP surged 10%, breaking market stagnation and surpassing Tether (USDT) to become the third-largest cryptocurrency. Its resurgence occurred shortly after the US SEC acknowledged Grayscale\u2019s application to convert its XRP Trust into an ETF. Becoming a Top Performer Again The cryptocurrency market hasn\u2019t shown much action in the past 24 hours, with most leading […]<\/p>\n","protected":false},"author":0,"featured_media":6190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-44458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/44458"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44458"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/44458\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/6190"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}