XRP Price Surge: ETF Approval Odds Hit 90% Today
XRP Price Surge: ETF Approval Odds Hit 90% Today
XRP Price Breaks Key Resistance Levels
XRP price has successfully broken above the $2.32 resistance zone, rising by 2.5% in today's trading session. This upward momentum comes as multiple bullish catalysts converge, including improved ETF approval prospects and massive trading volume increases.
The cryptocurrency's market capitalization has surged to $137.48 billion, representing a 2.5% increase, while trading volume has exploded by 75% to reach $3.88 billion across all exchanges.
XRP ETF Approval Odds Reach 90% on Polymarket
The most significant driver behind XRP's price surge is the dramatic increase in ETF approval odds on Polymarket. The probability of XRP ETF approval by 2025 has jumped by 19% in a single day, now sitting at an impressive 90%.
This surge in confidence stems from reports that the U.S. Securities and Exchange Commission is considering a streamlined approval process. The new 240-day 19b-4 procedure could potentially reduce crypto ETF approval time to just 75 days, significantly faster than current timelines.
Industry executives suggest that exchanges may submit filings under this new framework within weeks, benefiting applications for Solana, XRP, Dogecoin, and other digital assets currently under review.
Upbit Trading Volume Dominates Global Markets
South Korean exchange Upbit has emerged as the dominant force in XRP trading, recording an extraordinary $1.94 billion in trading volume within a single hour. This massive spike dwarfs Binance's $90 million volume during the same period.
The surge in Upbit trading coincided with XRP's 2.36% price rise, helping push the cryptocurrency above the crucial $2.28 resistance zone. This trading activity demonstrates strong retail interest, particularly in the South Korean market.
Derivatives Markets Show Strong Institutional Interest
XRP derivatives markets are experiencing significant growth, with open interest rising 9.19% to $5.15 billion. This increase indicates fresh capital entering leveraged positions, suggesting both retail and institutional traders are positioning for further price movements.
Total derivatives volume has climbed 81.07% to $7.35 billion, reflecting robust speculative demand. Options open interest also increased by 14.6%, although options volume experienced a temporary decline.
CapSign Launches $580M Ripple Equity Fund
CapSign has introduced an innovative on-chain venture equity fund operating on the XRPL EVM Sidechain. The fund contains 4.7 million Ripple shares valued at $125 each, based on the last Lingto sale, bringing the total estimated worth to over $580 million.
This groundbreaking initiative uses Delaware Series LLCs and smart contracts to enable token-based governance. Investors can participate in real-time voting on share sales and management decisions through the platform.
CapSign CEO Matthew Rosendin emphasized the significance of this development, stating this represents the first time a DAO structure holds real private equity at this scale. The fund features a real-time dashboard displaying ownership data, estimated share values, and active proposals.
Ripple's Banking License Application Progress
Ripple's ongoing application for a U.S. national bank charter represents a significant step toward institutional adoption. The license would enable Ripple to expand into regulated banking and custody services, potentially attracting long-term institutional interest.
This regulatory progress, combined with reports that Ripple and the SEC are moving to dismiss their ongoing appeals, suggests the possible end of the 4-year XRP lawsuit that has overshadowed the cryptocurrency's development.
Large Whale Movements Signal Market Confidence
Whale activity has returned to XRP markets, with 219.8 million XRP worth approximately $500 million moving between unknown wallets earlier today. Such large transactions typically indicate repositioning by major holders and often precede significant price movements.
Crypto analyst Dark Defender commented on the current market dynamics, noting that XRP has achieved a clear breakout and is positioned on the road to all-time highs.
Technical Analysis Points to Continued Momentum
The reclaim of the $2.25 Fibonacci level has contributed to technical confidence among traders. According to market analysts, this level reclaim confirms a sentiment shift and marks the end of the accumulation phase.
XRP's ability to maintain levels above $2.32 will be crucial for continued upward momentum. The combination of technical breakouts and fundamental catalysts creates a favorable environment for sustained price appreciation.
Market Outlook and Future Catalysts
Several factors continue to support XRP's bullish outlook. The potential for streamlined ETF approval processes, Ripple's expanding institutional services, and growing adoption of XRPL-based innovations all contribute to positive sentiment.
The cryptocurrency's performance in South Korean markets, particularly on Upbit, demonstrates strong regional demand that could continue supporting price levels. Combined with increasing derivatives activity and whale accumulation, these factors suggest XRP may be positioned for further gains.
As regulatory clarity improves and institutional adoption expands, XRP's price trajectory appears increasingly positive. The convergence of multiple bullish catalysts creates a compelling case for continued upward momentum in the near term.