XRP surged past the $1 threshold last week for the first time since 2021, sparking renewed interest among cryptocurrency investors. This significant milestone comes as the digital asset faces a series of potential regulatory and market changes that could influence its trajectory in the coming months.
The cryptocurrency’s rise has been fueled by speculation over the possible approval of an XRP-based exchange-traded fund (ETF) in the United States. Several major financial institutions have also applied to create such ETFs, thereby indicating that XRP may start gaining acceptance in conventional finance systems. If approved, the ETF could enhance XRPโs credibility and attract institutional and retail investors, potentially driving its price even higher.
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Market Dynamics Driving XRPโs Performance
Regulatory developments within the United States have also played a significant role in XRPโs recent price surge. Investors have closely monitored changes at the U.S. Securities and Exchange Commission (SEC). Speculation surrounding SEC Chair Gary Genslerโs potential resignation has created a wave of optimism in the XRP community. Some previous sources indicate that such a scenario led to an expansion of XRP by 20% due to a positive change in expectations on the regulation of digital assets.
Whale activity has been notable in recent weeks, contributing to the bullish sentiment, with crypto analyst Armando Pantoja reporting that large investors accumulated 453.3 million XRP tokensโvalued at approximately $526 millionโwithin a week. This marks the highest level of whale accumulation in nearly three years, indicating rising confidence among significant stakeholders and suggesting an underlying shift in market sentiment.

Source: Armando Pantoja
Despite the optimism, XRP has encountered resistance at key price levels, facing daily challenges at $1.12 and $1.11, where selling pressure consistently capped its upward momentum. However, $1.09 has emerged as a short-term support level.

Source: Coinmarketcap
Conclusion
XRPโs climb above $1 reflects growing confidence in its potential amid shifting market and regulatory conditions. While challenges remain, developments like a potential ETF approval and regulatory changes could shape its future trajectory. Investors will continue to monitor these critical factors in the coming weeks.
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