XRP Price Surge: Analysts Bullish on Wall Street's Growing Crypto Involvement Amid ETF Optimism

XRP has seen a notable 5% price increase over the past 24 hours, climbing to $2.29 while broader cryptocurrency markets remain relatively stagnant. The digital asset now shows consistent weekly gains and a remarkable 375% annual growth. This upward movement follows the SEC's conditional approval of the Grayscale Digital Large Cap ETF, which includes XRP among its holdings, though implementation awaits clearer regulatory guidelines for Exchange-Traded Products (ETPs).

Market analysts remain optimistic about the long-term implications for XRP, particularly regarding potential spot-based ETFs. Prominent analyst Nate Geraci noted on social media platform X that while the SEC has temporarily paused the approval process, the development signals a positive trajectory for crypto ETFs overall. 'Once formal listing frameworks are established, the floodgates will open for XRP ETFs,' Geraci stated.

Technical indicators support the bullish outlook, with XRP's Relative Strength Index (RSI) reaching 60 and moving averages poised for a positive crossover. Additional positive signals include increased fund inflows and rising funding rates, currently at 0.0104%.

Beyond ETF prospects, Ripple's corporate developments – including recent applications for a US banking charter to expand its stablecoin operations – further strengthen XRP's fundamentals. Analysts project potential price targets of $2.50 by August and $3.50 by year-end, with some long-term predictions even suggesting a $100 valuation.

Meanwhile, the presale success of Snorter (SNORT), an emerging Ethereum- and Solana-based trading bot token raising over $1.3 million, demonstrates continued investor interest in innovative crypto projects. The platform's automated trading capabilities and security features position it as a promising newcomer in the DeFi space.