Analysts attribute XRP’s rise to the third-largest cryptocurrency by market cap to optimism around regulatory changes and Ripple’s ecosystem expansion.
What Happened: Speaking with Benzinga, industry experts highlight how Ripple‘s (CRYPTO: XRP) business growth, including the launch of its RLUSD stablecoin, and potential shifts in SEC leadership are driving demand for XRP.
In a note sent to Benzinga, Ryan Lee, Chief Analyst at Bitget Research, pointed to the ongoing legal battle between Ripple and the SEC as a critical driver of market sentiment.
He emphasized that “any positive developments in the case, such as Gary Gensler’s resignation …
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