Why is Ripple (XRP) gaining more than most Altcoins today?

Why is Ripple (XRP) gaining more than most Altcoins today?

Most of the crypto market is in the green right now, but XPR is outpacing.

The cryptocurrency market’s resurgence over the past twelve hours has benefited some altcoins more than others. Aside from the huge double-digit winners of the mid-tear club, XRP stands out as the top gainer among the biggest 10 alts.

So why does this happen, and can the asset sustain its upward movement?

ETF-driven hype?

Citing information from Glassnode, we reported yesterday that This, in line with whales selling off XRP en masse, spelled trouble for the underlying asset, which had already fallen below $2.20 at that point.

However, what happened over the next twelve hours was very different. After Trump’s dividend promise of $2,000 and his hopeful statement that the US government would do so reopen Soon, XRP rose more than 7% and approached $2.50 earlier this morning.

This makes it the best performer among the 15 largest altcoins, according to CoinGecko data. Perhaps a large part of these gains can be attributed to the latest developments on the ETF front. Numerous issuers continue to update their

If the US government shutdown does indeed end soon, this could open the doors for quick approval of these applications. But even if they don’t, many of them have removed the “delay amendments” section, which could essentially guarantee they’ll kick off within the next few weeks unless the SEC formally objects. The first could see the light of day in just three days.

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XRP technical data

Popular analyst CW indicated that XRP’s turn is “beginning,” as it has “hit bottom” and is on the verge of a remarkable recovery. Their analysis suggests that the asset’s upcoming rally could be quite spectacular, leading to a new all-time high as the price heads towards the top of Stage 4.

CRYPTOWZRD too outlined XRP’s “somewhat bullish” close, especially against BTC. The analyst said another move higher could follow once the XRP/BTC pair starts rising above the daily lower high trend. This is possible when bitcoin’s dominance starts to decline again.

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