XRP Its price has remained relatively stagnant for some time, causing concern in the community. The price lost another 10.83% in the last seven days, falling to $0.5659.
Although the price has recorded a very low increase in the last 24 hours, there does not appear to be any fundamental detail that could increase the price. Unlike its peers, XRP has fallen more than 9.36% in the past month, underlining how deep its current decline is.
XRP’s biggest asset to the recovery right now depends on its correlation with Bitcoin (BTC). Based on this, if the highly anticipated spot Bitcoin Exchange Traded Fund (ETF) product is approved by the United States Securities and Exchange Commission (SEC) any time from today, the bullish catalyst that XRP needs could be secured and push the price higher.
If approval comes, XRP continues to stake its claim to be one of the biggest beneficiaries.
There is increasing talk of XRP spot ETFs, which heated up the market with fake filings linked to BlackRock in November last year. Ultimately, the emergence of a Bitcoin ETF could create a more bullish future than currently envisioned.