Ripple Effect 🌊
TL;DR
- XRP‘s price is having a moment, briefly hitting $2.80 🚀
- Analysts think it’s going to keep on truckin’ 🚚, with targets ranging from $2.94 to $3.03 🤑
The Rally Goes On 🎉
Ripple’s XRP is killing it, outperforming most cryptos in the top 20 club 🤩. Its price is up 8% in the past 24 hours, briefly reaching a two-week high of $2.82 (according to CoinGecko) before taking a teensy step back to $2.76 📉.
The US SEC’s decision to acknowledge 21Shares’ XRP ETF application is the likely culprit behind the price pump 💪. It’s like the SEC is giving XRP a big ol’ hug 🤗.
Earlier this month, the SEC acknowledged a similar proposal from Grayscale, the world’s biggest digital asset manager 🤑. This means the SEC has officially started reviewing the applications, which can take up to 240 days ⏰.
If the SEC gives the green light, investors will have more ways to get in on the XRP action, with a bit more protection and oversight 🛡️. Plus, it’s a big deal for the crypto industry, showing that the SEC might be softening its stance 🤗.
Recall that the SEC wasn’t exactly BFFs with the crypto industry during Gary Gensler’s tenure, filing lawsuits left and right 📝. But now, with Mark Uyeda at the helm, things might be looking up 🌞.
XRP’s Next Potential Targets 🎯
According to some market observers, XRP’s price has plenty of room to grow 🚀. One user, CRYPTOWZRD, thinks XRP could hit $3.03 and beyond 🤯.
Others, like Ali Martinez and EGRAG CRYPTO, are also predicting big things for XRP 🤑. Martinez thinks XRP could reach $3 if it stays above $2.30, while EGRAG CRYPTO suggests a strong close above $2.75 could mean a local high of $2.94 📈.
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2025-02-15 11:50