Here’s What Could Propel XRP to New All-Time Highs, According to Santiment

Following the TDI and early April, an accident on the market scale, in which the whole cryptocurrency industry was faced with increased volatility and the collapse of the prices, the feeling changed while BTC approaches the $ 100,000 mark again.

Santiment data reveal that the overall market conditions have changed even for altcoins, many of which have struggled to regain traction in recent months. Now, however, traders seem to be on the gourmet side for many alts, including the Ripple XRP, which could be about a renewed rally which could push it over $ 3 and towards its top of all time.

This is at least what the crown provides, given the media threshing around the potential approval of the Ripple ETF in the United States. However, cryptocurrencies often tend to move in the opposite direction of what the majority expect.

XRP in New Ath?

After the American elections, which brought a lot of excitement in cryptographic space due to the inevitable and favorable change in the regulatory landscape, XRP has become one of the greatest beneficiaries, perhaps motivated by the media that the legal case of the dry will finally reach an end.

From November to January, its price exploded several times, ranging from $ 0.6 to $ 3.4. Thus, the Ripple token equaled its 2018 ATH but failed to rape it. Although the aforementioned trial has indeed been announced as being settled by the CEO of Ripple, the effects on the price of the underlying assets were minimal. In fact, XRP is now negotiated just under its price before the triumphant announcement of Garlinghouse in mid-March.

With the effects of closing the trial closure, the community focused on another potential propeller of future gains – an ETF Ripple in the United States. After the approval of the FNB XRP based on future earlier this year, many expect a spot to be on our doors, the experts suggesting that this could be this summer.

Santly knowledge Confirmed this story, even if the SEC delayed the decision to make a decision on the proposal of FNB Spot by Franklin Templeton.

“…[T]The delay has not shaken the optimism of investors. Many believe that once approved, these ETFs could bring large sums of institutional money and push XRP in the dominant financial current. »»

Another bullish perspective

Although the report indicates that the global XRP discussion levels have decreased in recent months compared to other higher altcoins, it noted that the “Bulls become more vocal compared to few bears”.

The Santiment team said that the majority within the community also supported a global upward perspective also from a technical perspective.

“With growing attention and more exposure on the way, many in cryptographic space see XRP on the verge of a major escape,” conclude paper.