Ripple’s Price Surge: Is It Magic or Just Brazil? 🪄💰

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TL;DR

  • In a dazzling display, Ripple (XRP) has outshone its crypto peers with a 6% daily increase, thanks to Brazil’s groundbreaking approval of the world’s first spot XRP ETF. Who knew Brazil could be so cool? 🌎✨
  • And guess what? The US might just follow suit, with the SEC giving a nod to Grayscale, 21Shares, and Bitwise. Talk about a plot twist! 🎭

XRP Outperforms Its Rivals

In the grand theater of cryptocurrency, a slight revival has graced the stage in the past 24 hours. Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have all made minor gains, but it’s Ripple’s XRP that steals the show, boasting a 6% daily price increase. It flirted with a local high of $2.74 before settling down at a modest $2.71. Oh, the drama! 🎭💸


One major development from Brazil is perhaps the most likely reason for this rally. The Comissão de Valores Mobiliários, Brazil’s securities regulator, has approved the world’s first spot XRP exchange-traded fund (ETF). Who knew regulators could be so trendy? 🕶️📈

This investment vehicle allows investors to dip their toes into the asset without the hassle of purchasing it from exchanges or worrying about self-custody. It’s like having your cake and eating it too! 🎂

Not to be outdone, several well-known companies, including Grayscale, Bitwise, and 21Shares, are itching to launch similar products in America. The SEC has acknowledged their applications, which means they’re either going to approve or reject them soon. Stay tuned for the next episode! 📺

Another factor positively impacting XRP’s latest resurgence could be the whales’ activity. Earlier this week, large investors accumulated a staggering 150 million tokens (worth almost $400 million) in just 48 hours. Talk about a shopping spree! 🛒🐋

These continuous efforts will reduce the coin’s circulating supply, potentially boosting its value—if demand stays steady, of course. And let’s not forget, the whales’ moves often inspire smaller players to join the party, bringing in fresh capital. 🎉

The crypto analytics platform Santiment recently estimated that the number of XRP whales and sharks (those holding more than 100K XRP) has increased by 261 in the past 10 weeks. This suggests that large investors remain confident in the asset’s future potential, despite its price rollercoaster. 🎢

Bonus: The Trump Effect

It’s worth mentioning that XRP’s rally could also be linked to some of the US president’s latest actions. As CryptoPotato reported, Trump recently published two articles about Ripple’s expansion on American soil since his presidential victory. Who knew politics could be so… profitable? 💼💵

His interaction sparked huge speculation across the XRP community, with some members viewing this as a catalyst for a price explosion for the token in question. Buckle up, folks! 🚀

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2025-02-20 13:51