XRP’s bullish end to 2024 triggered a 300% gain in the Grayscale XRP Trust.
Regulation and political dynamics favored XRP in the past months.
A spot ETF will allow institutional participation in XRP and boost demand.
XRP is ending the year on a bullish note, significantly affecting Grayscale’s XRP Trust, which the investment firm relaunched in September. According to reports, the Trust is about to close 2024 with over 300% growth, thanks to XRP’s late rally amid shifting dynamics in the cryptocurrency ecosystem.
It is worth noting that recent developments around crypto regulation and the political conditions have benefitted XRP, especially towards the end of the year. Donald Trump’s commitment to support the crypto industry and his victory during the U.S. presidential election boosted XRP’s bullish momentum, building on its partial victory in a 2023 court judgment.
XRP’s bullish sentiment extended to products tied to the crypto asset, including Grayscale’s XRP Trust. The shares of the Trust, priced at $10.85 during the September relaunch, reached $45.46 in December. Several analysts stated that Trump’s victory in the elections and his support…
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