XRP, the native cryptocurrency of Ripple, has surged 3.5% following recent developments in the market. The token, which had been consolidating between $2.00 and $2.20 for several weeks, recently experienced a breakout, trading at around $2.46. This price increase has coincided with a rise in the Fear and Greed Index, which spiked from 30 on Sunday to 45 on Monday. The Fear and Greed Index is a popular market sentiment indicator, and its increase reflects growing investor optimism, which has been fueled by multiple factors.

The most significant catalyst for XRP’s price surge is the declaration by Ripple CEO Brad Garlinghouse that the long-standing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) may be coming to an end. Although the SEC has yet to release an official statement, the mere suggestion that the four-year legal conflict is over has fueled optimism within the XRP community. This development, coupled with the possibility of positive declarations from Ripple regarding future partnerships and the Ripple USD stablecoin (RLUSD), has led many investors to become more bullish on XRP’s future prospects.

Historically, XRP has performed well during the month of March, with the token averaging a 19.2% gain over the past 11 years, according to data from Cryptorank. However, as of Monday, XRP’s price growth for March 2025 was showing a decline of 4.72%. Despite this, analysts are optimistic that XRP will follow its historical trend and finish the month on a positive note. This optimism is further supported by the fact that XRP has already recovered by 26% from its 30-day lows, with its recent intraweek gains exceeding 5%.

Another factor contributing to XRP’s rise is the recent listing of an XRP Exchange-Traded Product (ETP) on Nasdaq Stockholm. The financial services firm 21Shares has listed the 21Shares XRP ETP (AXRP) alongside two other digital asset products: the 21Shares Bitcoin Core ETP (CBTC) and the 21Shares Solana Staking ETP (ASOL). The introduction of the XRP ETP has the potential to attract more institutional investors, adding further legitimacy to XRP as an investment asset. In addition, the listing of the XRP ETP highlights the growing institutional interest in the cryptocurrency market, particularly in the Nordic region.

According to Mandy Chiu, Head of Financial Product Development at 21Shares, “This year represents a breakthrough moment for crypto in Europe, with increasing confidence driven by the MiCA regulatory framework and a significant rise in institutional participation.” This growing institutional interest in crypto is seen as a positive sign for XRP’s future price trajectory, especially as the regulatory landscape in Europe becomes more favorable for digital assets.

The overall sentiment in the crypto market has been shifting from fear to optimism in recent weeks, and XRP is following this trend. If the bullish sentiment continues, XRP could experience further price gains throughout the remainder of March. Analysts are predicting price targets for XRP to range from $3.38 to $69.34, based on Fibonacci retracement levels. These predictions highlight the potential for significant upside movement, especially if Ripple’s legal issues are resolved in its favor and new partnerships are declared.

In conclusion, XRP’s recent surge can be attributed to several factors, including the end of Ripple’s legal battle with the SEC, the listing of the XRP ETP, and the growing optimism in the broader cryptocurrency market. As the Fear and Greed Index continues to climb, XRP is poised for further potential gains in the coming days, provided the positive sentiment persists and Ripple continues to make strides in its efforts to expand the utility and adoption of its blockchain technology.