Analysts attribute XRP’s rise to the third-largest cryptocurrency by market capitalization to optimism surrounding regulatory changes and the expansion of the Ripple ecosystem.

What happened: In an interview with Benzinga, industry experts explain how this works ripple‘S XRP/USD Business growth, including the launch of stablecoin RLUSD, and possible changes in SEC leadership are driving demand for XRP.

A note sent to Benzinga states: Ryan LeeChief analyst at Bitget Research has suggested that the ongoing legal battle between Ripple and the SEC is a crucial factor in market sentiment.

He emphasized that “any positive development in the case, such as the resignation of Gary Gensler or a favorable settlement, could further push the price of XRP higher.”

Shivam ThakralCEO of BuyUcoinhighlighted the 40% increase in XRP price in 24 hours, catapulting its market cap to over $156 billion.

Thakral attributed this increase to a more crypto-friendly regulatory environment under the Trump administration and the expectation of significant market inflows.

“Investor confidence is also being boosted by forecasts of a rate cut by the Federal Reserve,” he added.

Also Read: Donald Trump May Announce SEC Chairman Pick Tomorrow: Report

Ripple’s RLUSD stablecoin and its broader ecosystem growth are fueling demand for XRP.

According to Lee, Ripple’s partnerships with financial institutions and the token’s integral role in its infrastructure directly impact XRP’s valuation.

Market Analyst Alex Kuptsikevich from FxPro noted that while the price of XRP has stabilized at $2.6 – a level not seen since 2018 – corrections are likely at this point.

He also pointed to the possible launch of XRP-related ETFs as a future catalyst.

XRP has recorded a gain of 286% since the beginning of the year, significantly exceeding expectations Bitcoin BTC/USD And Ethereum ETH/USD.

What’s next: Ripple’s rally reached back to the $2 mark for the first time in almost seven years, with a market cap of over $136 billion.

Ripple’s expansion into stablecoins and cross-border payments, as well as optimism about a leadership change at the SEC, have boosted investor sentiment.

Read more:

Image: Shutterstock