The XRP Ledger (XRPL) ecosystem is experiencing significant growth, with its leading cryptocurrencies showing impressive gains early Sunday morning.
In the past week, XRP has surged by 11.8%, while Sologenic (SOLO) and Coreum (COREUM) have soared by 21.6% and 21.4%, respectively.
This rally reflects increasing momentum for XRPL-based assets, surpassing gains seen in Polkadot (DOT) and Kusama (KSM), which rose by 3.4% and 2.9% respectively.
The XRPL is designed for fast, low-cost cross-border payments and asset tokenization. It is a decentralized blockchain that features a built-in decentralized exchange (DEX), trust lines for asset issuance, and sidechains for enhanced functionality. The ecosystem is further expanding with the integration of non-fungible tokens (NFTs), smart contracts, and decentralized finance (DeFi) applications.
Ripple has been a key driver of institutional adoption within the XRPL, while the XRPL Foundation and developer community continuously work to enhance the network’s capabilities. The recent surge in XRPL-related tokens indicates growing confidence in its ecosystem, as innovation in tokenization, payments, and DeFi accelerates.
Notably, the U.S. Securities and Exchange Commission (SEC) has recently recognized Grayscale’s filing for an XRP exchange-traded fund (ETF), sparking optimism about the potential for institutional investment pending approval.
Market analysts now estimate a significant influx of institutional capital if the ETF is approved. Bets from market participants suggest an 81% likelihood of approval this year. Analysts from a major financial institution have stated that a spot XRP ETF could attract up to $8 billion in institutional funds. If approved, XRP could join Bitcoin and Ethereum as a top cryptocurrency appealing to institutional investors.
Grayscale aims to transform its XRP Trust into a tradable ETF, which would greatly enhance liquidity and accessibility for global investors.
The SEC’s acknowledgment represents a crucial step in the approval process. Additionally, the engagement of Ripple’s CEO with policymakers in Washington, D.C. last week has raised prospects for regulatory clarity.
Currently, XRP is trading at $2.78, with a 24-hour trading volume of $3.5 billion. Here’s a summary of the seven-day performance for some of the top cryptocurrencies:
| CRYPTOCURRENCY | PRICE | 7-DAY GAINS +/- |
| Bitcoin (BTC) | $97,514.17 | +0.3% |
| Ethereum (ETH) | $2,699.44 | +1% |
| Solana (SOL) | $194.54 | -5.6% |
| Cardano (ADA) | $0.7837 | +10.4% |
| Dogecoin (DOGE) | $0.2704 | +4.6% |
| Shiba Inu (SHIB) | $0.00001617 | -0.9% |
