XRP finally caught a break after six straight days of losses, and it’s all because people are getting excited about the possibility of XRP spot ETFs getting approved. The token jumped about 3.72% to $2.83 on Tuesday, which was enough to snap that ugly losing streak and get traders talking again.
The big news came from a joint statement by the SEC and CFTC that basically said they’re okay with certain crypto products being traded. This might not sound like much, but for XRP fans, it’s huge because it could make approval of XRP ETFs way easier and faster.
Some experts are pretty bullish about this whole thing. Nate Geraci from NovaDius Wealth Management thinks there’s basically a 100% chance we’ll see XRP ETFs approved this year. That’s some serious confidence right there, especially considering how Bitcoin and Ethereum ETFs have been doing.
Speaking of Bitcoin, it’s also having a good time, hitting $110,189 after some decent ETF inflows. Tuesday saw about $260 million flowing into various Bitcoin ETFs, with Fidelity leading the pack at $132.7 million. Companies are still loading up on Bitcoin too – 19 firms added more Bitcoin to their holdings just last week.
The whole crypto market seems to be getting a boost from expectations that the Federal Reserve might cut interest rates soon, making riskier assets like crypto more attractive to investors.
Conclusion
Both cryptocurrencies show promising momentum driven by regulatory clarity and institutional demand, though success depends heavily on upcoming ETF approvals and Fed policy decisions.
Also Read: XRP ETFs
