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The price of Ripple has reached 2.58 US Dollar, which is up about 10% over the past twenty-four hours, and around 22% since the following week. While Ripple is still about 33% lower than its all-time high of 3.84 US Dollar, which was recorded in January 2018, the recent momentum has renewed hopes for a strong breakout.
The sudden surge in interest in XRP was not coincidental. Last week, Ripple's lawsuit against the ( SEC) saw a notable development. Both parties filed a joint motion for a declaratory judgment to complete a settlement agreement, indicating that the lawsuit, which was filed in 2020, is finally nearing its end.
This increase is accompanied by growing speculation regarding the approval of the XRP exchange-traded fund. Following regulatory approval for Bitcoin and Ethereum exchange-traded funds, XRP is considered a major candidate for the next wave. Approval of such an exchange-traded fund could attract significant institutional investments and drive the price further up.