XRP Primed for Record Highs—Santiment Reveals the Catalysts

XRP’s next bull run might be closer than traders think. Market intelligence firm Santiment identifies key triggers that could send the embattled token soaring past its previous peak.

Network activity spikes, whale accumulation, and a sudden drop in exchange reserves—Santiment’s data paints a bullish picture. Meanwhile, Bitcoin maximalists scoff at the ’altcoin casino’ while quietly diversifying their bags.

Will Ripple’s legal clarity finally translate into price action? The charts suggest yes—but in crypto, even ’sure things’ have a habit of evaporating faster than a meme coin’s liquidity.

XRP to New ATH?

After the US elections, which brought a lot of excitement in the crypto space due to the inevitable and favorable change in the regulatory landscape, XRP became one of the biggest beneficiaries, perhaps driven by hype that the SEC legal case will finally reach an endpoint.

From November to January, its price exploded multi-fold, going from $0.6 to $3.4. Thus, Ripple’s token matched its 2018 ATH but failed to breach it. Although the aforementioned lawsuit was indeed announced as settled by Ripple’s CEO, the effects on the underlying asset’s price were minimal. In fact, XRP trades now just under its price before Garlinghouse’s triumphant announcement in mid-March.

With the effects of the lawsuit closure winding down, the community turned its focus on another potential propeller of future gains – a Ripple ETF in the US. After the approval of futures-based XRP ETFs earlier this year, many expect a spot one to be right around the corner, with experts suggesting that this could be as early as this summer.

Santiment’s insights confirmed this narrative, even though the SEC delayed making a decision on Franklin Templeton’s spot ETF proposal.

“…[T]he delay hasn’t shaken investor optimism. Many believe that, once approved, these ETFs could bring in large amounts of institutional money and push XRP into the financial mainstream.”

Still a Bullish Outlook

Although the report said the overall XRP discussion levels have declined in recent months compared to other top altcoins, it noted that the “bulls are getting more vocal as compared to the few bears.”

Santiment’s team said the majority within the community supported an overall bullish outlook coming from a technical perspective as well.

“With attention growing and more exposure on the way, many in the crypto space see XRP on the edge of a major breakout,” conclude the paper.