{"id":44774,"date":"2025-02-15T08:43:01","date_gmt":"2025-02-15T08:43:01","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=44774"},"modified":"2025-02-15T08:43:01","modified_gmt":"2025-02-15T08:43:01","slug":"ripple-xrp-price-explodes-to-two-week-high-heres-why","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=44774","title":{"rendered":"Ripple (XRP) Price Explodes to Two-Week High: Here\u2019s Why"},"content":{"rendered":"

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

XRP briefly surpassed $2.80, driven by the SEC\u2019s acknowledgment of 21Shares\u2019 XRP ETF application.
\nAnalysts predict further gains, with targets ranging from $2.94 to $3.03 if the price maintains momentum above key support levels.<\/p>\n

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

The Rally Goes on<\/h2>\n

Ripple\u2019s XRP has been <\/span>at the forefront of<\/span> gains in the past few days, outperforming most cryptocurrencies <\/span>from<\/span> the top 20 club.<\/span> Its price charted another 8% increase on a 24-hour scale, briefly rising to a two-week high of $2.82 (per CoinGecko\u2019s data) before slightly retracing to the current $2.76.\u00a0<\/span><\/p>\n

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

The US SEC\u2019s <\/span>decision<\/span><\/a> to acknowledge 21Shares\u2019 application to convert its XRP Trust into an exchange-traded fund (ETF) is the most likely factor fueling the pump.\u00a0<\/span><\/p>\n

E<\/span>arlier this month, the securities regulator <\/span>acknowledged<\/span><\/a> a similar proposal filed by the world\u2019s biggest digital asset manager \u2013<\/span> Grayscale.<\/span>\u00a0<\/span><\/p>\n

The <\/span>aforementioned developments<\/span> mean the SEC has officially received the applications and started a formal review process, <\/span>which usually lasts<\/span> up to 240 days. <\/span>In the end<\/span>, the watchdog must either approve or deny the ETF filings.<\/span><\/p>\n

A potential green light would give investors additional options to gain exposure to XRP\u2019s price movements, providing <\/span>a level of<\/span> protection and oversight. <\/span>It also removes the burden of <\/span>having to\u00a0buy, store, or secure the<\/span> cryptocurrency directly.<\/span><\/p>\n

Meanwhile, a possible approval could also indicate that the SEC has embraced an entirely different approach toward the digital asset industry. Recall that the agency was not <\/span>that friendly<\/span> during Gary Gensler\u2019s tenure, filing countless lawsuits against crypto businesses such as Ripple.\u00a0<\/span><\/p>\n

The former Chairman <\/span>resigned<\/span><\/a> on January 20 and <\/span>was succeeded<\/span> by Mark Uyeda, who seems <\/span>much<\/span> more open to innovation and <\/span>positive<\/span> toward the cryptocurrency industry.\u00a0<\/span><\/p>\n

XRP\u2019s Next Potential Targets<\/span><\/h2>\n

According to multiple market observers,<\/span> the asset\u2019s price has much more room for growth.<\/span> The X user CRYPTOWZRD <\/span>noted<\/span><\/a> that XRP closed the previous day \u201cstrongly bullish,\u201d expecting a further uptrend toward the $3.03 resistance target and beyond.<\/span><\/p>\n

Others who recently contributed include Ali Martinez and EGRAG CRYPTO. The former <\/span>predicted<\/span><\/a> a rise to $3 as long as the price held steady above $2.30.\u00a0<\/span><\/p>\n

The latter suggested that \u201ca strong close\u201d above $2.75 could result in a local high of $2.94. \u201cRemember, anything below $3.40 is merely noise in the market,\u201d the analyst added.<\/span><\/p>\n

The post Ripple (XRP) Price Explodes to Two-Week High: Here\u2019s Why<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR XRP briefly surpassed $2.80, driven by the SEC\u2019s acknowledgment of 21Shares\u2019 XRP ETF application. Analysts predict further gains, with targets ranging from $2.94 to $3.03 if the price maintains momentum above key support levels. The Rally Goes on Ripple\u2019s XRP has been at the forefront of gains in the past few days, outperforming most […]<\/p>\n","protected":false},"author":0,"featured_media":44775,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-44774","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\/44774"}],"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=44774"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/44774\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/44775"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}