{"id":46205,"date":"2025-02-20T10:40:21","date_gmt":"2025-02-20T10:40:21","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=46205"},"modified":"2025-02-20T10:40:21","modified_gmt":"2025-02-20T10:40:21","slug":"why-is-the-ripple-xrp-price-up-today-9","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=46205","title":{"rendered":"Why is the Ripple (XRP) Price Up Today?"},"content":{"rendered":"

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

Ripple (XRP) outshined other major cryptocurrencies with a 6% daily increase, fueled by Brazil\u2019s approval of the world\u2019s first spot XRP ETF and other potential factors.<\/span>
\nSuch a product may also see the light of day in America, with the US SEC acknowledging the applications of Grayscale, 21Shares, and Bitwise.<\/p>\n

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

XRP Outperforms Its Rivals<\/h2>\n

The cryptocurrency market has experienced a slight revival in the past 24 hours, with Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other leading digital assets witnessing minor gains.<\/span><\/p>\n

However, Ripple\u2019s XRP is the best performer in the top 20 <\/span>club<\/span>, recording a 6% daily price increase. It briefly climbed to a local top of $2.74 before settling at the current $2.71 (per CoinGecko\u2019s data).<\/span><\/p>\n

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

One <\/span>major<\/span> development coming from Brazil is <\/span>perhaps<\/span> the <\/span>most likely<\/span> reason fueling the rally.<\/span> The country\u2019s securities regulator \u2013 the Comiss\u00e3o de Valores Mobili\u00e1rios \u2013 <\/span>approved<\/span><\/a> the world\u2019s first spot XRP exchange-traded fund (ETF).<\/span><\/p>\n

The investment vehicle allows investors to gain exposure to the asset without purchasing it from exchanges or worrying about self-custody.\u00a0<\/span><\/p>\n

It is worth mentioning that many well-known companies, such as Grayscale, Bitwise, and 21Shares, have displayed their intentions to launch such a product in America. The US Securities and Exchange Commission (SEC) <\/span>acknowledged<\/span><\/a> their applications, meaning it has to approve or reject the filings officially in the following months<\/span>.\u00a0<\/span><\/p>\n

Another factor positively impacting XRP\u2019s latest resurgence could be the whales\u2019 activity. <\/span>Earlier this week, large investors <\/span>accumulated<\/span><\/a> 150 million tokens (worth almost $400 million) in <\/span>the span of<\/span> 48 hours.<\/span>\u00a0<\/span><\/p>\n

Continuous efforts in this field will decrease the coin\u2019s circulating supply, potentially boosting its value (provided demand remains steady). Additionally, the whales\u2019 moves often inspire smaller players to enter the ecosystem, bringing in fresh capital.<\/span><\/p>\n

The crypto analytics platform Santiment recently <\/span>estimated<\/span><\/a> that the number of XRP whales and sharks (those holding more than 100K XRP) has increased by 261 in the past 10 weeks. <\/span>This<\/span> suggests that large investors remain confident in the asset\u2019s future potential despite its price fluctuations.\u00a0<\/span><\/p>\n

Bonus: The Trump Effect<\/span><\/h2>\n

It is worth mentioning that XRP\u2019s rally could also be linked to some of the US president\u2019s latest actions. As <\/span>CryptoPotato<\/span><\/em> reported<\/span><\/a>, Trump recently published two articles about Ripple\u2019s expansion on American soil since his presidential victory.\u00a0<\/span><\/p>\n

His interaction sparked <\/span>huge<\/span> speculation across the XRP community, with some members viewing this as a catalyst for a price explosion for the token in question.<\/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 Ripple (XRP) outshined other major cryptocurrencies with a 6% daily increase, fueled by Brazil\u2019s approval of the world\u2019s first spot XRP ETF and other potential factors. Such a product may also see the light of day in America, with the US SEC acknowledging the applications of Grayscale, 21Shares, and Bitwise. XRP Outperforms Its Rivals […]<\/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-46205","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\/46205"}],"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=46205"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/46205\/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=46205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}