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XRP Price Skyrockets to $0.51: Key Drivers of the Surge
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XRP Price Surge and Market Optimism

XRP has surged over 18%, reclaiming the $0.5 resistance level, sparking optimism for a continued rally.

Ripple CEO Fuels XRP ETF Speculation

ETF Buzz: Ripple CEO Brad Garlinghouse highlighted new reference rates and real-time indices for XRP by the CME Exchange, suggesting this could be the first step towards institutional crypto products.

Anticipation: With a potential U.S. Spot Ethereum ETF launch next week, the market is also speculating about an XRP ETF.

Ripple vs. SEC Lawsuit Impact

Lawsuit Speculation: The SEC's announcement of a closed meeting on July 18 has fueled speculation about a potential settlement in Ripple's legal battle.

Dropped Investigations: The SEC dropping investigations into several crypto projects has boosted market confidence in XRP.

Anniversary of XRP's Security Ruling

Historic Ruling: July 13 marks the one-year anniversary of Judge Analisa Torres' ruling that XRP is not a security. Ripple executives are celebrating this milestone, contributing to XRP's recent gains.

Future Price Predictions

Bullish Outlook: Analysts predict XRP could reach $5 in the 2024 or early 2025 bull run.

Current Performance: XRP's price has crossed $0.51, reflecting a 12% increase in the last 24 hours and an 18% surge over the past week.

Conclusion

XRP's recent surge is driven by ETF speculation and positive developments in the Ripple vs. SEC lawsuit. With futures open interest up 24% and trading volume soaring 73% to $2.02 billion, the market shows strong bullish momentum, suggesting further gains for XRP.