XRP Price Prediction: On Track to Hit $1.80 as Daily ETF Inflows Return to Rally Levels

XRP (XRP) has surged by nearly 24% in the past 7 days, outpacing all other tokens in the top 5, as cryptos continue to rally following the Fed's widely expected rate hike.

This altcoin has now booked gains in 6 out of the last 7 sessions after a strong bounce off a key support area at $1.32.

Last week's rate hike drove higher volumes to the crypto market, as the Federal Reserve provided more clarity regarding how they plan to deal with inflation.

With a stronger foothold and less uncertainty, we are seeing a strong pickup in crypto valuations, primarily coming from the DeFi space — a segment that Ripple is actively developing.

Launch of Lending Protocol Could Further Increase XRP's Use Cases

Validators within the XRP Ledger are currently voting on two proposals that would pave the way for the launch of a lending protocol that would use XRP as collateral and Ripple USD (RLUSD) as a settlement asset.

This could create another use case for this blockchain, and it could be considered another key piece of the puzzle in Ripple's effort to grow its ecosystem and accomplish its mission of creating an entire suite of treasury solutions for global enterprises.

Paired with increased demand for RLUSD, whose market cap surpassed $2.4 billion recently, and ongoing investments in further growing its prime brokerage business, Ripple could emerge as a strong player in the DeFi space in the coming years.