XRP Surges to Third Largest Crypto, ETF Buzz Drives Price

XRP, the native digital asset of Ripple, has recently surged in value, briefly reaching the position of the third-largest cryptocurrency globally. Currently, it holds the fourth spot with a market capitalization of $140.5 billion. This upward trajectory can be attributed to several factors, including a pivotal court decision that ruled selling XRP to retail investors does not classify as a 'ecurities' offering, expected regulatory changes, and Ripple's ongoing demonstration of its capabilities in cross-border transactions and financial infrastructure.

Analysts like Peter Chung from Presto Research suggest that with the appointment of pro-crypto advocate Paul Atkins as the new SEC head, there may be resolutions or dismissals of ongoing lawsuits, potentially mitigating regulatory challenges that have long hindered XRP's potential. Financially, from mid-November to January, XRP achieved gains exceeding 560%, driving its price to $3.31, just $0.10 short of its all-time high of $3.40 recorded seven years ago.

A major driver behind XRP’s recent growth has been the potential for exchange-traded funds (ETFs) based on the asset. Over the past year, several leading asset management companies, including giants like 21Shares, Canary Capital, and Bitwise, have submitted applications to the U.S. Securities and Exchange Commission (SEC). Recently, WisdomTree, a New York-based asset management company handling over $113 billion in assets, filed for an XRP Fund. If approved, the firm plans to use the Bank of New York Mellon as its trustee, marking another significant vote of confidence in Ripple's technological framework.

The buzz around these ETFs has generated considerable excitement, with industry figures like pro-XRP lawyer Jeremy Hogan predicting a possible approval by mid-2025. Additionally, Valhil Capital’s Jimmy Vallee and Molly Elmoresuggest that with a $1 quadrillion market cap, XRP’s price could soar to $9,000, while a $530 trillion scenario might see a token rise to $4,800. Similarly, the Bakkes Pipeline Flow model indicates that as XRP’s role in processing global transactions expands, its value might approach $3,500 in the mid-to-long term.

Meanwhile, alongside XRP’s impressive journey, innovative platforms like GR