The cryptocurrency XRP Token (CRYPTO: XRP) from Ripple has soared in price over the last week, with optimism coming from an XRP exchange-traded fund and news that Ripple will invest in a newly rebranded Physical XRP ETP.

While Ripple has hit new 52-week highs, the cryptocurrency remains down from all-time highs.

What Happened: Asset manager WisdomTree recently filed to establish a trust that could lead to the launch of an XRP ETF.

This move follows others like Bitwise who have already filed to launch similar ETFs. On Wednesday, Ripple announced it would invest in the new rebranded Bitwise Physical XRP ETP.

“Global demand for exposure to the crypto asset class has exploded in 2024,” Ripple CEO Brad Garlinghouse said in a statement. “XRP is at the forefront of this momentum, standing out as a cornerstone for those seeking access to assets that are resilient and have real-world utility.”

Bitwise CEO Hunter Horsley said XRP’s utility and reliability are among the reasons investors are excited about XRP.

“XRP and the XRP Ledger are among the most familiar and trusted blockchains in crypto,” Horsley said.

With Bitcoin and Ethereum ETFs already approved, cryptocurrency experts see ETFs based on other top 10 cryptos by market capitalization like Solana, Dogecoin and XRP as the next to be approved.

The XRP token has gone through many wild swings over the years, with a case brought on by the SEC alleging XRP to be a security, sending the price and interest in the cryptocurrency down. A landmark court ruling that said XRP was not a security helped bring the cryptocurrency’s price back up.

While XRP has risen in value in recent months, the cryptocurrency remains down from all-time highs.

Read Also: If You Invested $1,000 In XRP Token When SEC Lawsuit Caused Mass Panic, Here’s How Much You’d Have Today

Investing $100 in XRP Today: XRP trades at $1.51 at the time of writing, up 9% over the last 24 hours.

A $100 investment today could purchase 66.2252 XRP.

XRP hit an all-time high of $3.84 on June 4, 2018.

If XRP returns to its 2018 all-time high of $3.84, the $100 investment would be worth $254.30. This represents a potential gain of 154.3%.

There is no guarantee that the XRP Token will return to its all-time highs.

The hypothetical investment shows that a small investment could gain over time if the cryptocurrency market returns to its high mark.

Read Next:

• If You Invested $100 In Dogecoin When The Meme Coin Launched, Here’s How Much You’d Have Today

This article was previously published by Benzinga and has been updated.

Photo: Shutterstock