15.02.2025 08:52

Okay, here's a rewritten version of the news article, using varied sentence structures and richer vocabulary, while retaining all key details:

**Ripple's XRP Soars to Fortnightly Peak: Catalysts and Projections**

*Originally appearing on BitcoinEthereumNews.com, the following details the recent surge in XRP's price.*

**In Brief:** XRP experienced a fleeting ascent above $2.80, propelled by the Securities and Exchange Commission's (SEC) formal recognition of 21Shares' application for an XRP-based exchange-traded fund (ETF). Market analysts are forecasting the potential for substantial further appreciation, with price targets situated between $2.94 and $3.03, contingent upon XRP sustaining its momentum above crucial support thresholds.

**The Sustained Ascent:** Ripple's XRP has conspicuously led the market's recent gains, eclipsing the performance of the majority of cryptocurrencies within the top 20 by market capitalization. CoinGecko's data reveals that XRP's price charted another 8% surge within a 24-hour period, briefly touching a two-week zenith of $2.82 before experiencing a minor pullback to its present level of approximately $2.76.

**Driving Forces:** The primary catalyst behind this price pump appears to be the SEC's acknowledgment of 21Shares' proposal to transform its existing XRP Trust into a spot ETF. This development follows closely on the heels of the regulator's similar recognition, earlier in the month, of an application from Grayscale, the world's preeminent digital asset manager.

**Regulatory Implications:** These acknowledgments signify that the SEC has formally received the applications and initiated the official review process, a phase that typically spans a maximum of 240 days. Ultimately, the regulatory body is obligated to either grant approval or issue a denial for these ETF proposals. A favorable ruling would present investors with expanded avenues for gaining exposure to XRP's price fluctuations, coupled with a degree of regulatory protection and oversight. Moreover, it would alleviate the complexities associated with direct acquisition, storage, and security of the cryptocurrency itself.

Crucially, a potential approval could herald a significant shift in the SEC's stance towards the digital asset sector. Under the previous chairmanship of Gary Gensler, the agency adopted a notably adversarial posture, initiating numerous legal actions against cryptocurrency entities, including Ripple itself. Gensler's resignation on January 20 paved the way for Mark Uyeda's appointment, who is perceived as being considerably more receptive to innovation and favorably disposed towards the cryptocurrency industry.

**Future Price Trajectory:** Numerous market commentators posit that XRP possesses considerable upside potential. Projected future of the asset are bullish.