- Wisdomtree filed an S-1 Form with the SEC to create a new Spot XRP ETF, causing Ripple Labs’ market capitalization to skyrocket.
- XRP’s market cap is now $156 billion, trading at $2.75 per token, making it the third-largest cryptocurrency.
- Over the last 24 hours, XRP gained 28% in value, and it has increased by 95% in the past week and 465% year-to-date.
Earlier today, Wisdomtree officially filed an S-1 Form with the SEC to create a new Spot XRP ETF. The news regarding this development caused a significant impact on Ripple Labs, which saw the market capitalization for its currency skyrocket.
With a current market cap of $156 billion and a trading value of $2.75 per token, XRP climbed through the ranks of the largest cryptocurrencies, surpassing established currencies like BNB, Tether, and Solana.
The currency is now the third-largest in terms of market capitalization, only behind the market giants Ethereum and Bitcoin. Over the last 24 hours, XRP gained an outstanding 28% in value — by far the best performer in the top 10 rankings.
During the weekly timeframe, Ripple’s crypto almost doubled in size, with a 95% increase. This adds up to the 348% increase in the last 365 days, and a 465% growth year-to-date.
Can Ripple Continue Surging?
After such an outstanding performance, nothing’s to say holders won’t see a price correction soon. RSI data shows that the asset has reached “overbought” levels throughout the day, signaling a potential correction.
However, that is not to say XRP has no more room for growth. As incredible as it sounds, the currency is still not close to its highest-ever price of $3.30 during a short-lived surge in March 2018.
Throughout its history, the token has never been closer to reaching ATH. Furthermore, upcoming news corroborates with the idea that XRP could continue climbing in 2025. On top of the aforementioned Spot XRP ETF that could introduce the currency to millions of new investors, a lot is talked about the upcoming replacement for Gary Gensler as SEC Chair.
The Trump administration has relied on crypto voters and crypto personalities like Elon Musk and Chris Giancarlo to build its upcoming office. In all likelihood, all bets are that the next head of the Securities and Exchange Commission will serve office with a more “crypto-friendly approach than its predecessor.
