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XRP, the digital asset associated with Ripple Labs, experienced a notable price surge today, climbing nearly 5% to an intraday high of $2.36. This upward momentum extends a robust three-week rebound that has seen XRP’s value appreciate by over 46%, buoyed by growing anticipation surrounding the potential launch of XRP-based futures exchange-traded funds (ETFs) by ProShares.
The financial services firm, ProShares, has signaled its intent to introduce three distinct XRP futures ETFs: the ProShares XRP Strategy ETF, the ProShares Short XRP Strategy ETF, and the ProShares XRP Blend Strategy ETF. These investment vehicles are slated to potentially go live on April 30th, offering investors indirect exposure to the XRP market through regulated exchanges.
This development follows closely on the heels of an announcement last week from CME Group, a leading global derivatives marketplace, regarding the addition of XRP futures to its US derivatives exchange. Trading for these new contracts is set to commence next month, alongside newly introduced Bitcoin, Ethereum, and Solana futures.
Despite this positive momentum in the futures market, progress on a spot XRP ETF remains in a state of stagnation. While the U.S. Securities and Exchange Commission (SEC) has acknowledged multiple applications for spot XRP ETFs, none have yet received the green light. Notably, Grayscale’s application faces a critical decision deadline on May 22nd, adding a layer of anticipation to the regulatory landscape.
Market analyst John Squire argues that while the futures ETFs are a positive step, they may not have a substantial long-term impact. “The real catalyst will come when a Spot XRP ETF gets approved,” Squire stated, suggesting that direct exposure to the asset is necessary for significant market movement.
🔥 The SEC just approved an $XRP ETF 🔥
— John Squire (@TheCryptoSquire) April 27, 2025
But it’s not what many people think.
It’s not a Spot ETF.
It’s a Futures ETF.
The difference?
A Spot ETF buys and holds real XRP, creating real demand. A Futures ETF only bets on XRP’s price without touching a single real token.
What… pic.twitter.com/EaqCWuOtM4
Interestingly, on-chain data from Glassnode reveals a consistent increase in the number of the coin addresses holding at least 10,000 tokens, particularly during a recent 30% price correction from January’s peak of $3.40. This accumulation by larger holders indicates a growing conviction in XRP’s long-term potential and suggests limited selling pressure, providing a solid foundation for further price appreciation.
Also Read: XRPFi Launches Tomorrow: Get Ready for XRP Staking & DeFi on Flare
Technically, XRP’s recent rally appears to be part of a falling wedge breakout pattern. The price has broken above the upper trendline of this bullish reversal pattern, accompanied by a slight increase in trading volumes. The projected breakout target, calculated based on the wedge’s height, sits near $3.63, representing a potential 55% gain from current levels. Furthermore, the price currently holding above the 50-3-day exponential moving average, a historically significant support level, reinforces the potential for reaching this target. The asset’s relative strength index (RSI) remains neutral, indicating ample room for further upward movement.
As the market awaits potential developments on the spot ETF front, the launch of XRP futures ETFs by ProShares injects a fresh wave of optimism into the XRP ecosystem, suggesting a potentially bullish trajectory in the near term.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
