XRP, the third-largest cryptocurrency by market cap, has risen more than 12% in the past 24 hours, according to CoinGecko. Data.

The token reached an intraday high of $2.87, rising to its highest level since December 3.

The price rise comes amid growing buzz around ETFs, with banking giant JPMorgan recently predicting that XRP ETFs could eventually attract as much as $8 billion.

According to analytics platform Santiment, the price of XRP continues to rise Supported Through the “continuous massive accumulation” of various cryptocurrency wallets containing between 1 million and 10 million tokens.

These wallets now hold 37% more coins than they did just two months ago, according to Santiment.

The latest rise also comes on the cusp of SEC Chairman Gary Gensler leaving the agency less than a week from now.

After a massive price surge, XRP is now just 16% away from reaching a new record high in seven years.

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