Overview

XRP recently saw a 5.5% increase in price, reaching $2.19 within 24 hours, driven by a combination of factors that enabled it to excel beyond the broader cryptocurrency market.

Key Reasons for the Surge

• Micro Futures on Robinhood: The introduction of XRP micro futures on Robinhood has provided traders with enhanced flexibility, allowing them to bet on the cryptocurrency’s future price movements with smaller contracts.

• Regulatory Developments: Ripple has withdrawn its cross-appeal in the ongoing SEC lawsuit over XRP sales, potentially resulting in the SEC dropping its appeal as well. This could improve market sentiment and remove uncertainties for investors.

• On-Chain Data Support: Recent analytics show over 1.1 million active addresses on the XRP Ledger in the past week, indicating increased engagement with the cryptocurrency.

This confluence of events has contributed to XRP’s notable performance as it continues to attract investor interest.