XRP Rises 13% Ahead of Ripple Stablecoin Launch

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The price of XRP has risen 21% in the past 7 days and 13% in the last 24 hours, trading at $2.69 at the time of writing—just as Ripple USD (RLUSD) stablecoin launches on the network.

XRP was launched in 2012 by the co-founder of Ripple Labs, but the company emphasizes that it is not the issuer of the token. Nevertheless, cryptocurrency traders are aware of the connection and tend to view good news from Ripple Labs (such as the approval of its new stablecoin by New York regulators) as a signal that the price of XRP will rise.

Alex Obchakevich, founder of Obchakevich Research, told Decrypt, "XRP has seen the largest increase among the top 10 cryptocurrencies in the past week," with its gains significantly surpassing Bitcoin's 10% increase during the same period.

He added, "XRP has been consolidating under this bullish flag for a while, but once it breaks through the resistance level of $2.60, I think it will start to rise towards $4."

Jake Ostrovskis, head of Wintermute's over-the-counter trading department, told Decrypt, "XRP benefits from its 'visibility' in the retail circle, and the optimism surrounding the new U.S. government is prompting traders to get in ahead of the potential launch of an ETF [Exchange-Traded Fund]."

Previously, New York asset management firm WisdomTree submitted filings at the end of November, becoming the latest company intending to launch an XRP spot ETF product.

Adam O’Neill, Chief Marketing Officer of Bitrue exchange, told Decrypt, "As an XRP ETF may also appear by 2025, we expect this token to hit an all-time high by the end of the first quarter at the latest."

He also added that the platform anticipates "a surge in demand for XRP by 2025, as many things are already in place." He emphasized that the company's struggle with regulators "now seems to be in the past," and XRP "will be the main beneficiary of a pro-cryptocurrency government under Trump."

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