XRP News Today: SEC Approves ProShares Ultra XRP ETF Launching on NYSE Arca

The US Securities and Exchange Commission (SEC) has officially approved the ProShares Ultra XRP ETF, marking a significant development for the XRP ecosystem and the broader digital asset market. This leveraged futures-based exchange-traded fund is designed to offer investors twice the daily exposure to XRP’s performance and is set to launch on the NYSE Arca by the end of this week.

The ETF will trade under the ticker symbol UXRP and has been listed as eligible by the Depository Trust & Clearing Corporation (DTCC), indicating that all key infrastructure for its launch is in place. The ETF will not involve direct ownership of XRP but will rely on a blend of futures contracts and swap agreements to deliver 2x daily returns based on an XRP benchmark index. This structure makes the fund ideal for short-term traders looking to maximize daily gains, though it may carry higher risk due to its leveraged nature.

The timing of the SEC’s approval is notable as it coincides with Crypto Week in Washington, D.C., where US lawmakers are actively discussing crypto legislation, including the Clarity Act and the Anti-CBDC Surveillance State Act. This intersection of regulatory progress and financial innovation is drawing renewed attention to XRP and its expanding investment ecosystem. ProShares is also preparing two additional ETFs tied to XRP’s performance: the Short XRP ETF (XRPS) and the UltraShort XRP ETF (RIPS). These funds are designed to provide inverse exposure to XRP’s daily price movements, offering 1x and 2x returns, respectively. While neither fund has received DTCC clearance yet, a tentative launch date has been set for July 18.

Prior to the ETF approval, XRP experienced a dramatic price rally, surging by over 27% in the past week, climbing to a high of around $3.02. The token then retreated slightly to hover near $2.89, following a broader market pullback triggered by political headlines. Despite the pullback, analysts remain bullish. A recent market snapshot reveals a sharp increase in buy orders between $3.0160 and $3.0180, with sell orders appearing thin just above this range, suggesting that demand far outweighs supply near the $3 level. Technical indicators such as the Relative Strength Index (RSI) still show room for further gains, reinforcing optimism. Some technical analysts believe that XRP is forming a classic cup-and-handle pattern, with $3 serving as the neckline. If this setup confirms, a breakout could lead XRP toward new all-time highs, especially with the launch of the XRP ETF.

The approval of the ProShares Ultra XRP ETF reflects the increasing acceptance of cryptocurrencies in the mainstream financial market and the regulatory progress made in the United States. The SEC's gradual opening to cryptocurrency-based investment products has paved the way for more innovative and diverse offerings in the future. However, investors should be aware of the inherent risks associated with leveraged products, which can result in significant losses if the underlying asset's price moves against their position. The prospectus released by ProShares outlines the targets and risks associated with the Ultra XRP ETF, emphasizing the potential for rapid price swings and lack of liquidity. XRP is largely unregulated and susceptible to fraud and manipulation, which could lead to severe price volatility.