- XRP open interest climbed 2.98% to $4.61 billion while trading volume surged 8.26% to $7.73 billion.
- The SEC froze Grayscale’s Digital Large Cap ETF after initial approval, but XRP ETF approval odds still rose to 87%.
- Institutional firms have committed nearly $1 billion to XRP reserves, and analysts target $2.69 if bullish momentum continues.
XRP has experienced significant market activity as open interest climbs and ETF approval speculation intensifies. The cryptocurrency faces a complex landscape of regulatory challenges while maintaining strong institutional interest.
Trading Activity Reaches New Heights
Market data from Coinglass reveals substantial growth in XRP trading metrics. Open interest increased by 2.98% to reach $4.61 billion. Trading volume surged 8.26% to $7.73 billion, indicating heightened market participation.
The rise in open interest suggests traders are positioning for potential price movements. Traders appear optimistic about XRP’s prospects, particularly following developments around Ripple’s banking license applications.
ETF approval odds have jumped by 16%, now at 87%. This represents a significant shift in market sentiment regarding regulatory acceptance of XRP investment products.
However, the probability of ETF approval by July 31, 2025, has declined by 39% to just 14%. This decrease reflects uncertainty in the regulatory approval timeline.
Grayscale ETF Complications Create Market Uncertainty
The SEC’s decision to freeze the Grayscale Digital Large Cap ETF has created ripples across the cryptocurrency market. SEC staff initially approved the fund and designed it to include XRP alongside Bitcoin, Ethereum, Solana, and Cardano.
Initial approval news triggered a positive XRP price response. However, SEC commissioners subsequently intervened, citing Rule 431(e) without providing detailed explanations for the freeze.
The regulatory setback has left investors questioning the future of XRP ETF products. The Grayscale approval is a potential catalyst for other XRP ETF applications.
Despite these challenges, the recent launch of the U.S. Solana ETF generated $33 million in first-day trading volume. This successful debut has maintained enthusiasm for cryptocurrency ETF products.
Institutional Interest Builds Despite Regulatory Hurdles
Ten XRP ETF applications remain pending with various financial institutions. Franklin Templeton and Grayscale continue advancing their proposals despite regulatory obstacles.
Tuttle Capital Management plans to launch leveraged XRP ETFs on July 16. This development could introduce new trading opportunities for institutional and retail investors.
Institutional commitment to XRP has grown substantially, with firms allocating nearly $1 billion to XRP treasury reserves. These investments demonstrate confidence in XRP’s long-term potential.
Technical analysis suggests XRP has broken above the $2.25 resistance level. CasiTrades, a prominent crypto analyst, identifies potential for continued upward momentum.
The current price action shows some resistance at $2.268, corresponding to the .382 retracement level. The analyst suggests a brief dip to $2.235 may occur before renewed bullish movement.
Should ETF optimism continue building, analysts project a breakout target of $2.69. This level represents a significant upside opportunity for XRP holders.
The cryptocurrency market remains focused on regulatory developments affecting XRP. Future ETF approvals could be major catalysts for price appreciation and institutional adoption.
Traders continue monitoring SEC actions and regulatory clarity regarding XRP’s classification. These factors will likely influence both short-term price movements and long-term investment strategies.
Disclaimer
The content shared on KryptoVaultDaily is for informational purposes only and does not constitute financial or trading advice. We do not offer guarantees and assume no responsibility for investment decisions based on the material provided. Always research and seek guidance from a licensed financial advisor before trading cryptocurrency or investing.
