Grayscale Investments launched the Grayscale XRP Trust, driving a nearly 10% surge in XRP's price. The trust allows accredited investors to invest in XRP, the digital token powering the XRP Ledger for international financial transactions. Following the announcement, XRP's price hit 59 cents, although it remains down 8% for the year.

Grayscale's new trust validates XRP's utility in cross-border transactions and boosts investor confidence, signaling broader adoption. Despite a dip in Grayscale's total assets, the XRP trust marks a significant development in the growing integration of traditional finance and cryptocurrency.

Meanwhile, Ripple has requested a stay on its $125 million payment to the SEC, raising speculation about a potential appeal in its ongoing legal battle. Speculation also suggests SEC actions could indirectly benefit the XRP community by providing regulatory clarity, enhancing legitimacy and investor confidence.