XRP on its way to reach a new ATH? 3 events that could push the price higher

XRP has faced significant price challenges in recent weeks, dropping 3% to $2.33. However, some factors suggest potential for recovery and growth in the coming months.

Approval of Ripple's stablecoin RLUSD Ripple's stablecoin USD, RLUSD, has been approved by the New York State Department of Financial Services (NYDFS). Recently, Ripple CEO Brad Garlinghouse confirmed the news but did not disclose the exact launch timing. Through institutional payments and cross-border transactions, RLUSD will enhance Ripple's ecosystem. Analysts believe that RLUSD will enhance the role of XRP as a bridge currency and may attract institutional investors. The addition of stablecoin to Ripple's structure could increase demand and strengthen XRP's position in the payment industry. The interest in ETFs supported by XRP There is increasing attention to the possibility of launching XRP-based ETFs. Some large asset management companies such as WisdomTree, 21Shares, and Bitwise have filed applications with the U.S. Securities and Exchange Commission (SEC). There are also speculations that even major companies like BlackRock could participate in the bidding process. Approving an XRP ETF will therefore open a bridge for institutional and retail investors to invest in the asset. Similar to Bitcoin ETFs, which have attracted billions of dollars in investment, an XRP ETF could significantly expand liquidity and asset usage. Analysts believe that such a result will lead to a significant increase in capital inflows and contribute to the growth of XRP. In addition, the legal battle between Ripple and SEC continues to be a major factor affecting the price of XRP. There is a possibility of shifting towards settlement, and this may be related to changes in enforcement at the United States as well as the expected departure of SEC Chairman Gary Gensler. A successful outcome can help determine whether XRP is a security and thus provide direction. This clarity is expected to increase investor confidence and encourage participation of organizations, creating a solid foundation for price appreciation. Analysts predict strong growth Famous cryptocurrency analyst Steph has noted that XRP could rise to $35 in the near future, with a target of 2025. In his view, the recent price increase on the monthly chart indicates that XRP is rising. He points out a 30% price increase and a successful breakout from a key resistance level as evidence of strength. According to Steph, XRP could increase by more than 1300% compared to the current value. He also advises investors to pay attention to price changes and take profit when the price rises. Steph also points out that XRP is increasing compared to BTC, which has been declining since 2018. Since November, the price of XRP has increased compared to BTC, and recent price action has traded in a rising price flag pattern. With this, in the case of breaking through key resistance levels, XRP could outperform Bitcoin by 78% and attract more investors.

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