Ripple’s XRP Soars Amid U.S. ETF Approvals

XRP emerged as the top gainer in the crypto market after a dip to $2.16, rebounding to nearly $2.3 over a short period. This surge came on the back of SEC approvals that allowed ProShares to launch three new Ripple ETFs—Ultra XRP ETF (2x leverage), Short XRP ETF, and Ultra Short XRP ETF (-2x leverage). These products, which track XRP futures prices, have ignited renewed investor optimism, contrasting with Bitcoin and other major cryptocurrencies that largely remained unchanged over the weekend. Analysts forecast that the eventual approval of spot XRP ETFs could have a transformative impact on XRP’s valuation, with some predictions even suggesting potential targets up to $100. The approval of these ETFs is seen as a significant step toward enhancing accessibility for both long and short positions in XRP, potentially spurring increased institutional involvement.