"Ripple Surpasses $3 for the First Time in 7 Years, Boosted by ETF Launch Expectations"

The cryptocurrency Ripple touched $3 during trading. Some speculate that it might break its all-time high.

On the 15th (local time), cryptocurrency media outlet CoinDesk highlighted Ripple's upward trend, reporting that Ripple reached $3 for the first time in 7 years. As of 6:40 AM on the 16th (Korean time), Ripple is trading at $2.98, up 12% from the previous day according to CoinMarketCap.

Ripple's surge began after Donald Trump, the Republican presidential candidate, was elected. Ripple's value skyrocketed by about 488% following Trump's election, surpassing Tether (USDT), Solana (SOL), and Binance Coin (BNB) to rank third in market capitalization.

With expectations that the cryptocurrency industry would benefit under the Trump administration, Ripple emerged as a representative beneficiary. In fact, Ripple is a leading cryptocurrency company that has been in legal battles with the Securities and Exchange Commission (SEC). There is speculation that if Ripple's security status is fully cleared, a Ripple spot Exchange-Traded Fund (ETF) could be launched. The Eco Cadenas Abra analyst explained, "The surge in Ripple's price is backed by ETF expectations, increased partnerships, and the stablecoin RLUSD."

Meanwhile, there were whale investors who continued to accumulate Ripple during its rise. According to Santiment data, since November 12, the amount of Ripple held by whales (addresses holding between 1 million and 10 million Ripple) has increased by 1.4 billion (about $3.8 billion).