Yesterday, the US market XRP showed a fierce performance again—over 12% increase directly taking the top spot on the mainstream coin gain list. The overall crypto market sentiment was also quite good at that time, with mainstream assets rising together.

Speaking of XRP's performance over the past year, there is indeed support behind it. Since the lawsuit was fully resolved in August last year, this project has been continuously releasing positive news. Especially the court ruling in the US clearly stated that XRP trading in the secondary market is not a security, which effectively removed the biggest sword of Damocles hanging over it.

The real driver of the price increase is the emergence of spot ETFs. Since their launch just a few months ago, they have attracted over $1.3 billion in capital inflows. Institutional investors now have a compliant direct buying channel, and their motivation to accumulate is significantly stronger.

Currently, XRP has already stabilized above the $2 level. The market sentiment is generally bullish, and the logic makes sense—lawsuit risks are completely eliminated, payment services are continuously expanding, and institutional funds are still flowing in. These factors combined lead many to expect 2023 to be XRP's breakout year. As for how high it can go, most market target prices point to the $3-5 range.