thecryptobasic.com
$XRP has surged to a 7-week high of $2.43 amid rising whale accumulation.
The rally is also fueled by anticipation surrounding multiple $XRP ETF approvals expected in July.
Today, $XRP has reached its highest value in seven weeks, crossing the $2.39 mark for the first time since May 23. At press time, $XRP is trading at $2.43, marking a 4.60% gain over the past 24 hours and a 6.85% increase on the week. $XRP is currently the fourth-largest crypto with a market capitalization of $143.84 billion.
- Chart of $XRP Whale Accumulation from Santiment
ETF Decisions on the Horizon
The timing is significant, as July is shaping up to be a pivotal month for $XRP. Several exchange-traded funds (ETFs) are awaiting potential approval from the U.S. SEC.
The first major decision is expected on July 14. On that day, ProShares plans to launch three $XRP futures ETFs: Ultra $XRP ETF, UltraShort $XRP ETF, and Short $XRP ETF. These funds would provide investors with 2x leveraged exposure to $XRP’s daily performance.
Turtle Capital is also set to launch a 2X Long $XRP Daily Target ETF on July 21. This is pending clearance from the SEC.
On the same date, Volatility Shares aims to debut two additional futures-based ETFs: the Volatility $XRP ETF and the 2x $XRP ETF.
Meanwhile, REX-Osprey $XRP ETF is scheduled to launch on July 25, pending SEC approval.
Beyond future products, more than 10 spot $XRP ETF applications are currently under review. The SEC faces an October deadline to deliver final decisions on these submissions. The outcome could have a long-term impact on both institutional adoption and price trajectory.
Aside from the highly anticipated ETF approvals, the ongoing lawsuit between Ripple and the SEC remains a major focus. The crypto market is closely watching for a full dismissal of the SEC’s case against Ripple — a development that could significantly boost investor confidence and positively impact $XRP’s price trajectory.