XRP is back trading above the $0.60 resistance, priced as high as $0.6237 so far in the day. Following the recent Bitcoin spot ETF approval, the token continued its climb from a low of $0.50 just over a week earlier on January 3.
XRP daily price chart. Source: TradingView
In particular, the positive sentiment comes from a historical regulatory breakthrough in the United States. On January 10, the Securities and Exchange Commission (SEC) approved 11 Bitcoin spot ETFs, which began trading across US exchanges.
These ETFs have outshined Bitcoin’s (BTC) daily price action, suggesting a broader market acceptance and institutional interest in cryptocurrencies.
However, not just Bitcoin is basking in the regulatory green light. Ethereum (ETH), XRP, and a slew of other digital assets are outperforming the leading cryptocurrency. In a twist, the ETF news possibly worked as an ignition of the 2024 bull market. Moreover, signs are increasingly pointing towards an altseason picking up steam.
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