The XRP, which stands out with a short -term rise in the crypto currency market, crossed the market value Tether and reached its third largest crypto asset. The value of the XRP increased to USD $ 2.63 and brought its total market value to USD $ 151 billion. However, this rise was not permanent. While the news was written, the market value of XRP decreased to 144 billion dollars and the price decreased to $ 2.46. However, XRP gained more than 4 percent in the last day.
Factors that are effective in the rise of XRP
Behind the sudden rise of XRP, the positive atmosphere adopted by the community played an important role. According to CoinMarketcap data, 88 percent of the participants in the XRP community reported optimistic views on the future of the asset. Another reason for the rise was rumors that Blackrock could apply for an XRP -based stock market investment fund (ETF). For this reason, there was mobility in the market.
While Blackrock will take such a step yet, there is no official statement, these rumors are considered to have an impact on the price. This possibility put forward by some names known in the sector continues to be discussed especially on social media platforms.
Opinions of sector experts and recent developments
Nate Gerraci from The ETF Store said that Blackrock would not allow its competitors to launch ETF for leading crypto assets. In March, Geraci raised the idea that Blackrock could start ETF for both Solana and XRP. Sec and Ripple $2.55 It is argued that such steps become more likely after the legal process between the legal process.
After SEC reached a compromise with Ripple, it is stated that the legal obstacles in front of XRP have disappeared. Nevertheless, it is observed that strong price movements are still based on speculative foundations.
Blackrock’s previous achievements on ETF also created a similar expectation in the XRP. The largest Bitcoin under the company’s management 
$103,564.03 His ETF has shown rapid growth in the market. Now, the XRP community closely follows such a development.
On the other hand, the XRP has passed Tether for the third time this year, but in January 2018, it is 35 percent behind a record of $ 3.84. Experts, XRP’nin a permanent rise trend should be cautious about whether to enter.
It is closely monitored whether XRP’s temporary leap in market value will be supported by new products that will attract the attention of major corporate investors. Legal processes and new investment instruments are thought to be decisive in the long -term success of XRP. These developments may also be important in terms of general crypto currency market dynamics. For investors, it is recommended to be cautious in an environment where volatility is high and speculation can directly affect prices.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
