The price of XRP Ledger’s native token has increased by more than 6% in the last 24 hours, while most other major cryptocurrencies remain relatively flat. Bitcoin is up about 0.5%, Ether is only up 0.07% and BNB is even down 0.4%

XRP is outperforming the broader cryptocurrency market due to a variety of factors, including a recent report from JPMorgan suggesting that a spot exchange-traded fund (ETF) offering exposure to the cryptocurrency could attract billions of dollars from investors.

The report contributed to the rise in XRP price as investor optimism about the possible launch of such an ETF has steadily increased over time. The cryptocurrency’s rise saw it hit a high of $2.89 before undergoing a slight correction and is now trading at $2.745.

XRP, like most digital assets, began to grow due to expectations of a more crypto-friendly regulatory environment under the administration of President-elect Donald Trump. Expected policy changes, including the creation of a strategic Bitcoin reserve and the appointment of Paul Atkins as head of the SEC, have boosted investor confidence.

Notably, Atkins is considered a pro-crypto figure at the top of the regulator, which is embroiled in a legal battle with Ripple – a major player in the XRP ecosystem – over the company’s XRP sales.

Trump’s pro-crypto stance has led many to speculate that XRP could soon see the launch of a spot ETF that offers exposure to XRP. Several companies have already filed for spot XRP ETFs, including Bitwise, Canary Capital, WisdomTree and 21Shares. Ripple CEO Brad Garlinghouse said such a fund was “simply inevitable.”

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