XRP News Today: Ripple's XRP Surges 20% on Network Updates, ETF Hopes

Ripple's XRP has emerged as one of the few altcoins to benefit significantly from the growth of Bitcoin, driven by its victory against the SEC and its strong ties to the banking sector. This has attracted renewed investor interest, and Ripple continues to enhance XRP's appeal through technological advancements and deeper integration into financial markets.

Ripple has announced major updates to the XRPL network, focusing on programmability to make it more developer-friendly. Currently, the XRPL network is primarily a payment network with fewer applications compared to Ethereum or Solana. A new lending application is set to boost the usage of the RLUSD stablecoin, which is designed for cross-border payments and as an alternative to traditional banking solutions. Ripple aims to expand the use of this stablecoin in decentralized finance, leveraging its strong ties with the banking sector to drive its development.

To enhance interoperability, Ripple is integrating the Wormhole solution, which will connect the XRPL network and its future EVM sidechain to other major blockchains. This bridge will provide access to the liquidity of the most important blockchains, breaking the isolation of the XRPL network.

XRP has been a reliable asset for traders since the 2017 bull run, with a resilient market capitalization and significant short-term volatility. Ripple's recent acquisition of a brokerage firm for $1.25 billion further strengthens market interest in XRP. The launch of standard and micro XRP futures contracts has increased trading volume, with $542.8 million exchanged since May 19. This diversified engagement, from ETF issuers to retail traders, highlights strong demand for XRP futures contracts.

The anticipation around the upcoming approval of XRP spot ETFs, following last year’s spot ETFs for BTC and ETH, suggests a potential rise in the asset. XRP recently retested the 0.618 Fibonacci level at $2, and an analysis using Elliott Wave theory indicates a rise up to $5 is possible during this cycle. Despite a lengthy lawsuit initiated by the SEC, XRP has maintained strong ties with the banking sector. With legal obstacles cleared, Ripple is accelerating network development and its influence in the financial world, preparing for XRP’s next rise.