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Will the XRP ETF Send $XRP to the Moon?

Irene Mukiri by Irene Mukiri
February 20, 2025
in Binance Feed, Market
Reading Time: 4 mins read
Will the XRP ETF send $XRP to the moon
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  • SEC Acknowledges Six XRP ETF Filings, Opening Public Comment Period for Review
  • XRP Surges 4.95% as Analysts Eye Breakout Above Key $2.90–$3.10 Resistance
  • Derivatives Volume Spikes, Options Trading Jumps 1,415.08% Amid XRP ETF Speculation

The U.S. Securities and Exchange Commission (SEC) acknowledged multiple spot XRP ETF filings, signaling potential institutional interest in the cryptocurrency. The latest acknowledgments involve filings from Cboe BZX and Nasdaq, seeking approval for XRP ETFs from WisdomTree, Canary Capital, and CoinShares. This recognition follows similar filings by Bitwise, Grayscale, and 21Shares, bringing the total XRP ETF applications acknowledged by the SEC to six within a short period.

SEC Opens Public Comment Period

As part of the regulatory process, the SEC has invited public comments on these applications. Interested parties can submit their opinions within 21 days of the filings being published in the Federal Register. 

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Once published, the SEC will have 240 days to approve or deny the applications. While market participants view these developments as a step toward regulatory acceptance, uncertainty remains due to the SEC’s ongoing lawsuit against Ripple.

Despite regulatory concerns, recent shifts in the SEC’s approach suggest a changing stance. The commission has formed an internal crypto task force, reduced its enforcement unit, and halted lawsuits against major players like Binance. These changes could impact how the SEC evaluates XRP ETFs in the coming months.

XRP Price and Market Performance

XRP’s price currently stands at $2.69, reflecting a 4.95% increase in the past 24 hours and a 10.06% gain over the past week. With a market cap of $155.34 billion and a 24-hour trading volume of $4.66 billion, XRP has seen strong market engagement.

Analyst EGRAG CRYPTO highlights that XRP recently bounced off the lower edge of an ascending triangle, indicating bullish momentum. The next key resistance level is $2.83, with a breakout above $2.90–$3.10 potentially triggering a stronger rally. A confirmed close above this range could turn it into strong support, solidifying a bullish continuation.

#XRP – 12 Hour Time Frame Update: 📊#XRP has bounced off the low edge of the Ascending Triangle, showing a #Bullish momentum! It's currently closing above $2.62 (🔵 Blue This High) which is also #Bullish

Targeting $2.83 (🟢 Green This High) is the next #Bullish milestone!

🔔… https://t.co/Zv1r2he1oW pic.twitter.com/dHsoOOXQ1r

— EGRAG CRYPTO (@egragcrypto) February 19, 2025

Derivatives Market Signals Growing Interest

Coinglass XRP derivatives data reveals increased market activity. Trading volume has risen by 6.90% to $7.57 billion, while open interest climbed by 6.55% to $4.10 billion. The most notable surge is in options trading, where volume spiked by 1,415.08%, reaching $56.56K. Additionally, options open interest has grown by 280.35%, hitting $7.29 million.

Tags: ETF NewsRipple (XRP) News

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