XRP experienced a significant price surge of 12% in 24 hours, climbing from $2.27 to $2.56, accompanied by a 97.77% increase in trading volume to $5.21 billion. This rally prompted Sistine Research to label XRP as the standout performer among major cryptocurrencies, citing it as the fastest horse off the government opening news due to improved market sentiment and expectations of U.S. regulatory progress.
Key drivers behind XRP's gains include the pending banking charter request from Ripple Labs, advancements in the Clarity Act in Congress, and growing speculation around an XRP exchange-traded fund (ETF). Bloomberg analyst Eric Balchunas noted that a 20-day observation window has begun for the 21Shares XRP ETF application, heightening anticipation for potential approval. Other issuers like Bitwise, Franklin Templeton, Canary Capital, and CoinShares have also updated their ETF filings on the Depository Trust & Clearing Corporation (DTCC) listings, with some removing delayment amendments, suggesting possible launches within weeks.
Trading activity showed a strong rotation toward XRP on Binance, with open interest spiking and outperforming Bitcoin and Ethereum. Analysts, including CW and CRYPTOWZRD, highlighted XRP's technical rebound and slightly bullish close against BTC, predicting it could surpass its all-time high and enter a new market phase. Broader factors, such as the U.S. government's potential reopening and former President Trump's $2,000 dividend promise, contributed to the optimistic outlook, reinforcing XRP's utility in international payment settlements and institutional adoption.
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