Wots the prediction on XRP this year?

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The XRP price has remained in a bear market this year, despite the network receiving a series of positive news.

Ripple xrp0.25%XRP was trading at $2.10 on Saturday, down by 40% from its highest point this year. Its market cap has dropped from $190 billion in January to $121 billion today. It’s currently trading at $2.08. See below.

XRP price defies good news streak: Can it still hit $5? - 1 — Source: CoinGecko

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XRP has had numerous bullish news events this year. First, Teucrium recently launched the 2X Long Daily XRP ETF or XXRP that has already attracted over $24 million in assets.

Second, several companies, such as Grayscale, 21Shares, WisdomTree, Canary, and Franklin Templeton, have all applied for a spot fund. Most analysts believe that the U.S. Securities and Exchange Commission will approve these ETFs. Polymarket odds indicate an approval rate of 77%.

Third, President Donald Trump mentioned XRP as one of the tokens that will be part of the U.S. government’s strategic reserves. Such a move would likely increase demand for the coin.

Furthermore, the SEC dropped its appeal of a case it had filed in 2020, thereby ending one of the longest-running legal issues in the cryptocurrency industry. The end of this lawsuit will help the company strike deals with American banks and money transfer companies. Ripple hopes that these firms will adopt its technology, which is faster and more cost-effective than SWIFT.

The XRP price has also ignored the growing market share of Ripple USD, its stablecoin whose market cap has jumped to almost $300 million.

Most recently, Ripple acquired Hidden Road, a prime broker that handles over $10 billion in assets a day. The company hopes to move some of these transactions to the XRP Ledger network.