Core Insights - XRP has risen above $2 for the first time since mid-December, driven by strong ETF inflows and improving regulatory sentiment in the U.S. [1] - U.S. spot XRP ETFs recorded inflows of $13.59 million on January 2, bringing total inflows since launch to $1.18 billion, indicating strong demand [1] - The departure of SEC Commissioner Caroline Crenshaw is perceived as a potential shift towards a more crypto-friendly regulatory environment, impacting market sentiment positively [2] - Speculation regarding upcoming legislation, particularly a possible Market Structure Bill markup on January 15, has contributed to elevated policy expectations and XRP's outperformance [3] - XRP's rally appears to be driven by token-specific factors rather than a general risk-on sentiment, as demand for bitcoin funds has weakened during the same period [4] Group 1 - XRP's price increase to over $2 is attributed to steady ETF inflows and favorable regulatory sentiment [1] - The total inflows for U.S. spot XRP ETFs have reached $1.18 billion since launch, indicating robust market interest [1] - The exit of SEC Commissioner Crenshaw is seen as a potential catalyst for a more favorable regulatory approach towards cryptocurrencies [2] Group 2 - Anticipation of the Market Structure Bill markup on January 15 has kept policy expectations high, contributing to XRP's strong performance [3] - The rally in XRP is more influenced by specific token dynamics rather than broader market trends, as evidenced by weaker demand for bitcoin funds [4] - XRP's price increase of approximately 8% contrasts with only modest gains in bitcoin and ether, highlighting its unique market position [4]