XRP rises as the broader crypto market remains flat. Why is it up today?

The price of the XRP Ledger native token is up more than 6% over the last 24-hour period, while most other major cryptocurrencies are relatively flat, with bitcoin up around 0.5%, ether up just 0, 07%, and GNP even falls 0.4%.

XRP is outperforming the broader cryptocurrency market across a variety of factors, including a recent report from JPMorgan that suggests a spot exchange-traded fund (ETF) that offers exposure to the cryptocurrency could pull in billions of dollars from investors.

The report helped the price of XRP rise as investor optimism about the potential launch of such an ETF has grown steadily over time. The cryptocurrency’s surge saw it hit a high of $2.89 before enduring a small correction to now trade at $2.745.

XRP, like most digital assets, began to rise on expectations of a more crypto-friendly regulatory environment under incoming President Donald Trump’s administration. Anticipated policy shifts, including the establishment of a strategic Bitcoin reserve and the appointment of Paul Atkins as head of the SEC, have boosted investor confidence.

Atkins, it’s worth noting, is seen as a crypto-friendly figure to lead the regulator, which has been embroiled in a legal battle with Ripple — a major player in the XRP ecosystem — over the firm’s XRP sales.

Trump’s pro-crypto stance has led many to speculate that XRP could soon see the launch of a spot ETF offering exposure to it. Several companies have already filed for spot XRP ETFs, including Bitwise, Canary Capital, WisdomTree and 21Shares. Ripple CEO Brad Garlinghouse has suggested that such a fund is “just inevitable.”

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