XRP Soars as Ripple Commits to Investment in Newly Renamed Bitwise Fund

XRP has recorded a significant price increase, especially after Ripple announced its commitment to invest in the newly renamed Bitwise Fund. The price of XRP rose by more than 10% following this announcement, reaching approximately $1.43, the highest level since August 2021.

Additionally, the strong price recovery of XRP is also driven by the actions of companies like Bitwise and Canary Capital, both of which have filed to establish an ETF fund related to XRP. This information has brought a sense of optimism to the market, although there are still many uncertainties surrounding the approval process from the SEC.

This price increase also reflects positive sentiment in the investment community, as large investors have been accumulating XRP, indicating confidence in the long-term value of this cryptocurrency. According to recent analyses, if XRP can surpass the $1.50 threshold, there is a possibility that the price could reach $2 in the short term.