XRP has seen a 30.76% increase, currently trading at $1.44, with analysts predicting a potential 45% rally to $1.96. Several factors are driving this optimism:
1. Gary Gensler’s Resignation: Speculation that SEC Chair Gary Gensler will resign in January 2025 could lead to the SEC dropping its appeal in the SEC vs. Ripple case, clearing the way for Ripple's victory and boosting XRP’s price.
2. WisdomTree Launches XRP ETP: WisdomTree’s launch of a physical XRP Exchange-Traded Product (ETP) in Europe marks a significant step toward institutional adoption. If similar products are approved in the U.S., it could further increase demand for XRP.
3. Record Open Interest: XRP’s open interest has surged to over $2.1 billion, signaling strong bullish sentiment from futures traders.
4. Legal Developments: Ripple’s legal battle with the SEC is ongoing, but positive developments, such as potential favorable rulings, could further drive price momentum.
With these factors combined, XRP is set for potential growth, with many eyes on the regulatory shifts and institutional adoption shaping its future.
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