XRP News Today: Ethereum's Pectra Upgrade Drives 45% Price Surge to $2,750

Ethereum, XRP, and Cardano have solidified their positions as leading cryptocurrencies, each with unique strengths and ongoing developments. Ethereum's recent upgrade, Pectra, has enhanced its scalability and user experience, contributing to a 45% price increase and positioning it near the $2,750 mark. Traders are closely monitoring this range, with some predicting a potential rise to $4,100 if the current trend continues. Long-term holders, who are already in profit, show no signs of exiting, indicating strong confidence in Ethereum's future.

XRP, while experiencing slower price movement this year with a mere 1% increase, is not stagnant. The project is actively developing cross-chain DeFi tools and exploring a new stablecoin, RLUSD. This integration could strengthen XRP's use case in the multi-chain space. Additionally, XRP has seen significant institutional interest, with three XRP ETFs launching in Canada and asset manager Franklin Templeton applying for an XRP ETF in the U.S. Ripple's acquisition of prime brokerage firm Hidden Road and the launch of the RLUSD stablecoin further position XRP for stronger adoption.

Cardano, despite its price suggesting otherwise, has substantial developments underway. The Hydra layer-2 solution is being rolled out, DeFi activity on the network is increasing, and ADA is drawing institutional interest again. The recent conversion of over $100 million in ADA to BTC and stablecoins to support DeFi growth, along with a 30% surge in its stablecoin market cap, indicates a bullish wave for Cardano. Integration with the Brave browser has expanded Cardano’s reach to a significant user base, and ETF optimism is rising, with analysts giving it a 55% approval chance. However, both XRP and Cardano still face challenges in gaining favor with large institutions, despite high ETF approval odds projected by analysts.

Despite the resilience of Ethereum, XRP, and Cardano, analysts are increasingly turning their attention to newer, fast-rising altcoins. One such token gaining traction is MAGACOIN FINANCE. Unlike the established cryptocurrencies, MAGACOIN FINANCE leans into political culture, meme energy, and fast-paced speculation. Its strategy is aggressive and designed to go viral, reminiscent of the earliest days of Dogecoin or Shiba Inu. Still in presale, MAGACOIN FINANCE has caught analysts' attention with its fixed supply of 170 billion tokens and the speed of early sales. Some analysts draw parallels between MAGACOIN FINANCE's setup and the early stages of other successful meme coins, suggesting it could be a strong contender in the next crypto rally.

Grayscale Investments' recent update to its Top 20 crypto assets list for Q3 reflects a shift in market sentiment. The list now includes Avalanche (AVAX) and Morpho (MORPHO) based on factors such as network activity, catalysts, and token valuation. Notably absent from the list are XRP and ADA, despite Ripple’s legal victories against the SEC and the overall market optimism surrounding both tokens. This exclusion has raised questions within the crypto community, as Grayscale’s own XRP and Cardano trusts are awaiting ETF approval, suggesting that the firm acknowledges their potential. The omission from the latest portfolio indicates that Grayscale may be prioritizing short-term momentum and valuation metrics over long-term fundamentals.

In contrast, two Ethereum-based tokens, Lido DAO (LDO) and Optimism (OP), were removed from the list due to weakening near-term fundamentals, despite their leadership in their respective sectors. This move by Grayscale appears to reflect a shift toward adoption-based criteria over long-term fundamentals. The exclusion of XRP and Cardano from the list, despite their strong ecosystem developments and increasing global ETF approvals, suggests that Grayscale is giving more weight to short-term momentum and valuation metrics. This trend indicates that while Ethereum, XRP, and Cardano remain strong, the crypto community is exploring new opportunities for growth and investment. The market's focus on short-term momentum and valuation metrics highlights the dynamic nature of the cryptocurrency landscape. As the market continues to evolve, investors and analysts will closely monitor the performance of these established altcoins and the potential of new entrants.