The New York Stock Exchange (NYSE) has approved the first XRP-linked exchange-traded fund, triggering a significant price surge. The ProShares Ultra XRP ETF (UXRP), launching on July 18, 2025, will provide 2x leveraged exposure to XRP through derivatives like futures and options, not direct holdings. This approval marks a pivotal moment for Ripple's native asset after years of regulatory challenges with the SEC.
XRP price surged 25% over the past week in anticipation, with a 1.1% gain in the last 24 hours. The cryptocurrency is currently consolidating between $3.00-$3.10 after testing recent highs. Technical analysis indicates key resistance at $3.00-$3.05, with a decisive break potentially targeting $4.80 according to analyst Ali Martinez (140K+ followers). Immediate support lies at $2.950 (aligned with a bullish trend line and 50% Fibonacci retracement), followed by $2.880 and $2.750.
ProShares simultaneously received approval for its 2x leveraged Solana ETF (SLON). Hourly charts show XRP trading above the $2.950 level and the 100-hour moving average, with MACD gaining bullish momentum and RSI above 50. However, selling pressure emerged near $3.00 previously, evidenced by above-average volumes.