XRP’s price saw a notable increase of 10%, currently trading at 2.68 USD. This rise in value has allowed XRP to surpass Tether, achieving a market capitalization exceeding 152 billion USD.

The increase in XRP’s price coincides with the US SEC’s acknowledgment of Grayscale’s application to convert its XRP Trust into an ETF, creating a wave of optimism among investors.

Ripple’s CEO, Brad Garlinghouse, indicated that the ETF development was ‘inevitable,’ and the Ripple community anticipates a favorable outcome in the ongoing legal tussle between Ripple and the SEC, which started in December 2020.