XRP Reached its Highest Level in 6 Years

XRP, the third-largest cryptocurrency by market capitalization, has risen more than 12 percent in the past 24 hours to $2.87, the highest level since 2018, according to Coinmarketcap.

This surge comes amid growing speculation around the XRP ETF, with JPMorgan predicting it could raise up to $8 billion.

Analytics platform Santiment reports that the rally is being fuelled by a significant build-up of portfolios holding between 1 and 10 million XRP, with these portfolios now holding 37% more tokens than they did two months ago.

The rally also coincides with the imminent departure of Securities and Exchange Commission (SEC) Chairman Gary Gensler.

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XRP is now just 16% away from reaching a new record high, marking its best price in seven years.

At the time of writing, the altcoin is trading at $2.86, reflecting over 20% growth on a weekly basis.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.