- XRP rebounds 13.4% in market cap, signaling resilience despite network concerns.
- Polymarket predicts 82% chance of XRP ETF approval in 2025, fueling optimism.
- Ripple’s ongoing SEC battle could determine XRP’s future in the crypto market.
Ripple’s XRP has been making waves in the crypto space recently, with contrasting perspectives shaping its potential future. A recent analysis from Altcoin Daily raised concerns over XRP’s viability, pointing out fundamental flaws and the potential breakdown of trust within the network.
Despite this, XRP’s market cap has rebounded sharply by 13.4% in just a few days, following a recent dip. This quick recovery highlights the cryptocurrency’s resilience, though ongoing developments could determine its next moves.
XRP’s Market Performance and Investor Sentiment
As of press time, XRP is trading at $3.08 with a 24-hour trading volume of approximately $4.73 billion, showing a slight dip of 0.80%. XRP’s current status is intriguing, considering the market’s continued interest despite concerns about the network’s fragmentation.
According to Santiment data, 4.34 million non-empty wallets hold under 100 XRP, a small investment worth around $313. This represents a substantial 71.5% of the 6.07 million non-empty wallets on the XRP Ledger. The numbers suggest that XRP retains a widespread user base, though some have expressed doubts about the long-term viability of the network.
Outlook for an XRP ETF Approval
On the flip side, there is growing optimism about XRP’s potential approval for an exchange-traded fund (ETF). Polymarket data suggest 82% chance of an XRP ETF being approved in 2025.
These projections follow the political shifts in the U.S., particularly with Donald Trump’s victory and the restructuring of the Securities and Exchange Commission (SEC). The momentum surrounding XRP ETF approval has been palpable since the SEC under Gary Gensler previously overlooked XRP filings.
The new SEC leadership, under Mark Udeya, has signaled a willingness to reconsider applications that were once blocked, including XRP’s. This shift could pave the way for XRP to join Bitcoin and Ethereum as the third cryptocurrency to be included in the U.S. market through an ETF.
The Ripple vs. SEC Legal Battle and Its Potential Resolution
XRP’s path to an ETF approval is still clouded by its ongoing legal battle with the SEC. The outcome of this dispute could significantly impact XRP’s future in the market. Approval of an ETF could signal the end of the legal standoff and help restore investor confidence.
The surge in ETF applications for various cryptocurrencies, including XRP, marks a broader shift in regulatory attitudes. Major firms such as Bitwise, WisdomTree, and 21Shares have already submitted their applications, reinforcing expectations that the landscape for crypto ETFs could soon change.
