XRP News Today: XRP Payment Volume Surges 1317% Amid ETF Approval Hopes

XRP, the cryptocurrency associated with Ripple, has witnessed a remarkable surge in payment volume, driven by increasing optimism surrounding the potential approval of an Exchange-Traded Fund (ETF). This development has sparked considerable interest and activity within the Ripple ecosystem, with various indicators pointing to a bullish outlook for XRP.

According to XRPScan, the total XRP payment volume rose to 4.11 billion, up sharply from 295.67 million the previous day. This surge comes amid growing market anticipation around the potential approval of a spot XRP ETF in 2025. The rise in payment activity coincided with a monthly high of 1.1 million XRP transactions recorded on June 9. Over the same 24-hour period, on-chain payment activity also increased by 117.41%. Despite XRP’s price showing minimal movement between $2.21 and $2.32, investor interest appears to be growing based on transactional trends alone.

This recent shift in market behavior has occurred while Ripple continues its global expansion and navigates unresolved regulatory matters in the United States. While many altcoins face ongoing challenges in demonstrating real-world application, XRP appears to be taking a different path. The XRP Ledger’s increasing activity is viewed as a sign of its growing relevance in decentralized payments. Payment growth has occurred without corresponding price volatility, indicating consistent utility rather than short-term speculation.

Observers note that rising usage figures may help separate XRP from tokens that rely heavily on price momentum without underlying functionality. Moreover, the active work of Ripple to enhance its international infrastructure could also promote long-term demand in its network. The firm has been able to maintain partnerships, and this is another reason why the use of the XRP Ledger in cross-border transactions has increased.

One recent development includes growing collaboration with institutional entities such as Ondo Finance and Guggenheim. These moves reflect a focus on real-world tokenization, an area where XRP has maintained strategic interest. Elevated XRP activity reflects growing confidence in regulatory developments. Prediction markets including Polymarket estimate the likelihood of XRP ETF approval to be 86%. The U.S. Securities and Exchange Commission’s recent actions have led to a significant change in sentiment which contrasts with previous monthly trends in handling of ETF applications for other altcoins.

These developments come as Ripple continues making acquisitions and expanding its business model. XRP’s rising utility and elevated ETF approval odds are shaping a new narrative around the asset’s role in the broader cryptocurrency market. The growing demand for RLUSD and the increased activity on the XRP Ledger could exert upward pressure on the price of XRP. As of the latest data, XRP was trading at $2.31, representing a 2.02% increase in the last 24 hours. The asset has fluctuated within this period, climbing from a low of $2.25 to a peak at $2.33. Despite a slight correction, the overall sentiment remains bullish, with many anticipating further price appreciation.

The potential approval of an XRP ETF is a significant catalyst for this bullish sentiment. Asset management giants are pushing for the approval of XRP ETFs, which could unlock significant capital inflows into the Ripple ecosystem. According to analysts' forecasts, the odds of ETF approval for XRP are as high as 98%, positioning Ripple as a legitimate player in the cryptocurrency market. This development could attract more institutional investors, further driving the demand for XRP and potentially leading to a breakout above the $3 mark.