XRP rose above $2 on Friday for the first time since mid-December, extending a strong start to 2026 as traders pointed to steady spot ETF inflows and improving U.S. regulatory sentiment.

Data cited by SoSoValue showed U.S. spot XRP ETFs took in $13.59 million on Jan. 2, pushing total inflows since launch to $1.18 billion. The steady demand has helped tilt near-term supply and demand dynamics in XRP’s favor, even as broader crypto benchmarks remain rangebound.

The move also comes as traders reassess the regulatory backdrop after SEC Commissioner Caroline Crenshaw’s departure, which some market participants viewed as clearing the way for a more crypto-friendly policy stance.

Crenshaw had been among the most vocal skeptics of crypto spot ETFs and had opposed the SEC dropping its appeal in the Ripple case, according to market commentary.

Speculation around upcoming legislation added to the momentum. Traders pointed to a possible Market Structure Bill markup on Jan. 15, which has kept policy expectations elevated into the first quarter and contributed to the token’s outperformance.

XRP’s strength stood out against mixed flows in other major crypto ETFs.

The same data set cited by analysts showed weaker demand for bitcoin funds over the period, reinforcing the view that XRP’s rally is being driven more by token-specific catalysts than a broad risk-on move.

XRP was last trading just over $2, up around 8%, while bitcoin hovered just over $90,000 and ether traded around $3,000, both only modestly higher on the day.