XRP News Today: U.S. XRP ETF Launch Propels Upbit Volume Surge

XRP, ETH, and BTC dominate the Upbit 24-hour trading volume ranking as of November 14, according to CoinGecko data. The XRP/KRW pair accounted for 20.6% of the exchange's $2.341 billion trading volume, marking the largest share among Korean won pairs.

Ethereum and Bitcoin followed in the top five, reflecting renewed institutional and retail interest in crypto assets amid shifting macroeconomic dynamics.

The surge in XRP activity coincides with the approval of the first U.S. spot XRP ETF, which launched on November 13. Eleven XRP ETF products are now listed on the Depository Trust & Clearing Corporation, backed by firms like Bitwise and Franklin Templeton. Institutional demand for crypto assets appears to be rebounding, with Bitcoin ETFs seeing $523 million in inflows on November 12. However, Ethereum ETFs continued to face outflows, with $107 million in net withdrawals on the same day.

On-chain data highlights mixed sentiment for XRP ahead of the ETF launch. Glassnode reported over 216 million XRP ($556 million) leaving exchanges the week before the approval, signaling potential bullish positioning. Yet, whales reduced holdings by 10 million XRP ($25 million) in the two days prior, suggesting profit-taking. Active XRP addresses hit three-month highs, while open interest (OI) in futures dropped to near-lows by November 12, indicating reduced leveraged positions.

Bitcoin's price action remains constrained by consolidation, with Glassnode noting a dense supply zone between $106,000 and $118,000 acting as resistance. Despite short-term inflows, sustained recovery would require overcoming this barrier. Meanwhile, XRP's technical outlook appears more favorable, with whales increasing their holdings to 13.43% of total supply since the October deleveraging event. Santiment data also shows steady accumulation by large-volume holders, reinforcing confidence in XRP's ecosystem growth.

Retail demand for XRP remains subdued, with futures OI averaging $3.67 billion as of November 14, down from $4.11 billion on October 10. However, the OI-weighted funding rate turned positive at 0.0049%, suggesting growing long-position activity. Analysts predict XRP could target $5 by Q4 2025 if institutional inflows persist and exchange supply remains low.

The broader crypto market benefited from the end of the U.S. government shutdown, which spurred risk-on sentiment. Bitcoin and Ethereum rebounded, with ETH trading at $3,533-a 2.36% gain over 24 hours. XRP's 7.16% weekly gain outperformed most major coins, while Bitcoin ETF inflows resumed after a post-liquidity crisis outflow streak.

Institutional confidence in crypto is further bolstered by BlackRock's ETP offerings and regulatory clarity from the SEC. However, macroeconomic uncertainties, including U.S. rate-cut expectations, continue to temper broader market breadth.