XRP Price Soars 20% In 24 Hours: Why Is XRP Up?

XRP (CRYPTO: XRP) is up 20% over the past 24 hours, riding high on bullish sentiment around altcoins.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Ripple (CRYPTO: XRP)	$1.74	$99.3 billion	+20%	+21%
Cardano (CRYPTO: ADA)	$1.08	$38.8 billion	+10.5%	+20.5%
Algorand (CRYPTO: ALGO)	$0.3966	$3.3 billion	+35.5%	+70.5%

Trader Notes: Crypto trader Brandon Hong noted in a post on X on Friday that Ripple has reclaimed its “lawsuit wick,” meaning the 75 cents local high set in 2023 when Ripple received a favorable court ruling.

The trader notes that after surpassing the $1.10 level, XRP has pushed to $1.60, offering traders looking for an entry another opportunity before attempting to reach a new all-time high, which he calls “the final boss.”

Influential trader DonAlt sketched out his price targets in a Nov. 13 tweet, setting $1.90, a new all-time high and $6.90 as potential future targets.

Community News: Ripple on Wednesday announced plans to invest in the newly rebranded Bitwise Physical XRP exchange-traded product.

CEO Brad Garlinghouse said XRP stands out as “a cornerstone for those seeking access to assets that are resilient and have real-world utility.”

The news comes as asset manager WisdomTree filed to establish a trust entity in Delaware as a preliminary step toward launching an XRP exchange-traded fund.

An XRP ETF would mark the third major cryptocurrency ETF after Bitcoin and Ethereum.

Though no applications have been filed with the SEC, potentially friendlier regulation under the incoming Trump administration is generating excitement in the wider financial industry.

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