What's going on with $XRP ???
The price of XRP is rising due to several factors that combine positive fundamentals and market expectations:
1. Progress in the Ripple vs. SEC lawsuit: Ripple has made recent progress in its battle against the SEC in the US, which has brought optimism about a possible favorable outcome. In addition, new filings for XRP-based ETFs, including by 21Shares, indicate increasing institutional adoption.
2. Growth in XRP Ledger usage: The number of active wallets in the XRP ecosystem has increased significantly, reaching record levels in recent months. This reflects increased adoption of the RippleNet protocol for international transfers.
3. Expectations for new financial products: Ripple is developing a stablecoin (RLUSD) that could strengthen its ecosystem and increase demand for the XRP token. In addition, the prospect of ETFs could bring a new wave of institutional investment.
4. Positive technical analysis: Indicators such as the Relative Strength Index (RSI) and chart formations suggest that XRP could continue to rise, with possible short-term targets between $0.75 and $1 by the end of 2024. More optimistic forecasts point to prices above $3 by 2030.
The current scenario reflects a combination of technical, legal and market factors that favor XRP, but volatility is still high, and future developments in the legal case or in the global cryptocurrency market could impact the price.