The post XRP Sees 1.04% Increase with ETH-Spot ETF Hopes appeared on BitcoinEthereumNews.com.

XRP makes a steady move as it awaits major catalysts such as spot crypto ETF news and SEC vs crypto case-related news to come into play.  Several analysts also believe that a Crypto-friendly Whitehouse could cause a huge shift in the industry as they await the upcoming election with bated breath.  The steady growth of the XRP price since May 12 has been marked as one of the most underrated moves in the market following a bullish resurgence triggered by several external factors. As of the early hours of Tuesday (May 28), the asset had made a little move up the price curve, surging by just 0.06% in 24 hours to trade at $0.5254. While this could be underlined as positive, the recorded returns appear below par compared to the marginal gain of 1% on May 27. However, it is still a partial reversal of the 2.53% loss recorded on Sunday (May 26).  Subjecting the underlying price determining factors to scrutiny, it was observed that the SEC vs Ripple Case had little to no impact on the price with no major news on Monday to incite the interest of investors. However, Tuesday could be different as the court decision on the Coinbase Motion for Interlocutory Appeal approaches. If this is granted, Coinbase would certainly appeal against the court denying the Coinbase Motion to Dismiss (MTD).  In the bigger picture, the entire crypto fraternity which includes the XRP enthusiasts hopes for a crypto-friendly White House to push for a broad implementation of the crypto-spot ETF market. Fortunately, the front-runner of the Republican Party Donald Trump has publicly declared his support for cryptos. Standing a chance to win the support of crypto lovers, the current US administration could be forced to reconsider its anti-crypto position which has made several key firms victims. …

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Filed under: News - @ May 28, 2024 4:20 pm