XRP Poised to Reach for the Stars as It Hits $2.48, Its Highest Level Since 2018

Ripple’s XRP continues to mesmerize the crypto market, reaching $2.48, its highest level since 2018. This rise, from an increase of roughly 399% in the period of a month, indicates that there is more and more speculation and confidence in the increase in demand for Ripple’s main token.

Cryptocurrency traders are keeping a close eye on XRP, which has reached its highest level since 2018, amid speculation that the altcoin could soon reach $10.

Here are some of the key factors that have contributed to XRP's recent rally and the discussion around its potential to reach $10:

Rising Demand and Speculation: Ripple's XRP continues to gain momentum in the crypto market, reaching $2.48, its highest level since 2018. This rise, coming from an increase of roughly 399% in the period of a month, indicates that there is more and more speculation and confidence in the increase in demand for Ripple’s main token.

This has led to a discussion on forums and social media of whether the altcoin is ready to reach for the stars and if a $10 XRP could soon become a reality.

Trump's Pro-Crypto Victory: Twists from the external environment, including president-elect Donald Trump and his encouraging sentiments towards virtual currencies, have boosted the rally of XRP.

The recent victory in the general election has brought hope among cryptocurrency investors, as most believe the new government will favor digital currencies. Trump’s victory sparked a 42% jump in the overall crypto market, propelling XRP to $2.48.

Ripple CEO Brad Garlinghouse has been especially vocal about Trump and his administration, stating that Trump will “make crypto great again” and, by extension, the markets will do so as well.

Robinhood's XRP Relisting: Robinhood decided to reinstate cryptocurrency on its platform after it had been banned in early 2020 due to the SEC case against Ripple.

The relisting sparked renewed interest in XRP particularly to the retail traders, thus the trading escalated. This is why trading volume on new applications such as Robinhood and Coinbase surged and caused the XRP price to rise.

Many of these have opened their doors to XRP in recent days, helping foster consumer interest in the coin.

Gensler's Departure for Legal Clarity: The pressure from the authorities is also easing up for XRP. That is good news for Ripple as well as for XRP, which has benefited from Gensler’s resignation alongside other positive signs, including what some believe to be the final stages of the SEC lawsuit.

The resignation of Gensler as the chairman of the Commission is welcome, especially if one considers his quite hostile attitude towards the industry.

With the prospect of a more crypto-friendly SEC leadership, XRP investors are hopeful that Ripple will soon be able to resolve its legal issues and unlock further growth.

Altcoin Season Benefits XRP: Now, as it stands, BTC market dominance has fallen from 60% to 53% within the past weeks, and XRP has gained the advantage from the growing market appetite for altcoins.

This trend is known as the altcoin season, during which investors return to buying larger numbers of different cryptocurrencies, including XRP.

The decline in Bitcoin’s market domination indicates that Alts are being sought after, and XRP benefited greatly from this shift.

ETF Speculation Pushes XRP Up: A significant part of the bullish signals in XRP is associated with the increasing expectation of XRP exchange-traded funds (ETFs).

Filing for the XRP ETFs by some key market players such as WisdomTree, 21Shares, and Canary Capital has attracted investors’ attention.

In particular, investors have gotten excited about WisdomTree’s filing, and the Bank of New York Mellon is listed as the trust’s administrator.

Should the approval be granted, an XRP ETF can be considered as a real game mover, enabling institutional más investors and likely pushing up the XRP price.

Record-Breaking Inflows Boost Confidence: XRP recorded $95 million in inflows into investment products in the last week, the highest amount CoinShares has reported for XRP since tracking began. It has increased week over week by a massive 621% and points to increasing institutional demand.

These inflows contributed to more than 35% of $270 million in total digital asset inflows in the last week, which proves the dominance of XRP.

In turn, Bitcoin registered $457 million in outflows, with commentators attributing this to profit booking after the Bitcoin touched the $100,000 mark.

However, the growth of Ethereum’s input shed light on the increasing demand for XRP as the ETF speculation continues and overall market interest intensifies.

XRP's Path to $10: XRP's price surge to $2.48 is just the beginning. With $95 million in weekly inflows, bullish political changes, regulatory optimism, and the growing likelihood of XRP ETFs, the stage is set for even more upward momentum.

XRP is now positioned to make a run at new all-time highs—potentially even $10. As market sentiment continues to favor Ripple, all eyes will be on the