Why XRP ETF proposals are increasing and what is keeping other issuers on the sidelines

The XRP/gold ratio has reached a historical support zone around $0.0004, as noted by market analyst Steph is Crypto. This level has historically indicated significant turning points for XRP's price relative to gold, suggesting a potential for upward movement following previous visits to this zone.

Bitcoin's price has recently experienced a significant drop to approximately $57,000, raising concerns about the sustainability of its recovery above $94,000. Analysts suggest that while a bullish trend may appear imminent, it could ultimately lead to a deeper market correction, as indicated by the Elliott Wave analysis shared by crypto analyst Xanrox.

XRP has surged back above $2, driven by significant inflows from institutional investors, indicating a robust rally for the altcoin. This momentum suggests that the interest in XRP is gaining traction, particularly among traditional finance (TradFi) players.

Legal expert Bill Morgan has highlighted that Ripple's inability to promote XRP over the years was primarily due to its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), which has now reached a resolution. This legal clarity allows Ripple to shift its focus towards promoting XRP without regulatory constraints.

Bitcoin's price surged to a new high of $97,500, with market data indicating that bullish sentiment is driving expectations for prices to exceed $100,000. This rally suggests a potential return of the bull market in cryptocurrency.

Morgan Stanley has filed multiple S-1 registration statements with the SEC to launch spot crypto exchange-traded funds (ETFs), marking a significant step towards mainstream adoption of cryptocurrency investments. This move comes as XRP ETFs are nearing $1 billion in assets under management, reflecting a growing interest in structured crypto participation.

Dash's price surged by 125% as traders shifted their focus to privacy coins, particularly following governance issues faced by Zcash. This shift indicates a growing interest in privacy-focused cryptocurrencies amid a volatile market.

XRP has seen a significant surge in trading volume, particularly in South Korea, as it prepares for a potential price breakout. The cryptocurrency is currently trading above $2, buoyed by strong interest from institutional investors and a robust market environment.