The XRP Ledger (XRPL) ecosystem is experiencing a significant surge in the crypto market, with its top cryptocurrencies leading the gainers at last check early Sunday morning. XRP has climbed 11.8% over the past seven days, while Sologenic (SOLO) and Coreum (COREUM) have soared 21.6% and 21.4%, respectively. This rally highlights the growing momentum for XRPL-based assets, outpacing other cryptocurrencies like Polkadot (DOT) and Kusama (KSM), which have seen more modest gains of 3.4% and 2.9%.
XRPL is a decentralized blockchain designed for fast, low-cost cross-border payments and asset tokenization. It features a built-in decentralized exchange (DEX), trust lines for asset issuance, and sidechains for expanded functionality. The ecosystem is expanding rapidly, with support for non-fungible tokens (NFTs), smart contract integration (Hooks), and decentralized finance (DeFi) applications gaining traction.
Ripple, a key contributor to XRPL, has been driving institutional adoption, while the XRPL Foundation and developer community continue to enhance the network’s capabilities. The recent surge in XRPL-related tokens indicates growing confidence in the ecosystem as tokenization, payments, and DeFi innovation accelerate.
One key factor driving this surge is the recent acknowledgment by the U.S. Securities and Exchange Commission (SEC) of Grayscale’s 19b-4 filing for an XRP exchange-traded fund (ETF). Analysts are projecting a surge in institutional investment if and when the ETF is approved. According to Polymarket, there is an 81% chance of approval this year, and JPMorgan analysts estimate that a spot XRP ETF could bring in up to $8 billion in institutional money.
If the XRP ETF is approved, it will join Bitcoin and Ethereum as a top cryptocurrency attracting institutional investors. Grayscale plans to transform XRP Trust into a tradable ETF, which would increase liquidity and accessibility for investors worldwide. Ripple CEO Brad Garlinghouse’s recent interactions with policymakers in Washington, D.C. have also boosted the chances of approval.
Currently, XRP is trading at $2.78, with a 24-hour trading volume of $3.5 billion. Other top cryptocurrencies like Bitcoin, Ethereum, Solana, Cardano, Dogecoin, and Shiba Inu have also seen varying levels of gains and losses over the past seven days.
Overall, the surge in the XRP Ledger ecosystem and the potential approval of an XRP ETF signal a growing confidence in the future of XRPL-based assets and the broader crypto market. Investors and analysts will be closely watching developments in the coming weeks to see how this momentum continues to unfold.