XRP has surged to its highest level since May 2021, reaching a peak of $1.67 Friday morning, per data from CoinGecko.
At time of publication, the price of XRP has settled at $1.66, up 13.8% on the day and 12.8% in the last week. Its price move comes amid growing speculation that an XRP exchange traded fund (ETF) may be on the horizon, alongside optimism around the potential of change at the U.S. Securities and Exchange Commission (SEC).
On Monday, global ETF provider WisdomTree registered an XRP ETF in the state of Delaware, according to Fox Business—the first step to getting the product approved. Then on Wednesday, European XRP ETP rebranded to the Bitwise Physical XRP ETP as Ripple said it’ll invest in the fund.
“Global demand for exposure to the crypto asset class has exploded in 2024, fueled by a growing interest in crypto-backed investment offerings,” Brad Garlinghouse, CEO at Ripple,
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Author: Ryan Gladwin
