In brief
- XRP’s price surpassed $3.00 on Monday for the first time since late January.
- The asset could benefit from regulatory tailwinds and tokenization trends, according to Matt Kreiser, an analyst at Messari.
- Standard Chartered sees the XRP’s price reaching $5.50 by the end of this year.
The price of XRP climbed above $3.00 on Monday, hitting a six-month high as investor optimism about the asset’s usefulness and more favorable regulatory environment rose.
The asset may also benefit from tokenization trends over the coming years, Matt Kreiser, an analyst at crypto analytics platform Messari, told Decrypt. He noted that XRP’s price movements over the past week are reminiscent of strength seen late last year.
“It’s a resurgence of what happened in the fall after the election of Trump,” he said, noting the buoyancy in markets after the crypto-supportive president won a second term.
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Author: André Beganski
