XRP News Today: XRP Surges 100% to $3 After ProShares ETF Approval

XRP experienced a notable surge in value following the approval of the ProShares Ultra XRP ETF, pushing its price to just above $3 within a single day. This price increase was driven by the bullish momentum generated by the ETF's launch, which sparked significant market interest and investor confidence. The approval of the ETF has led to a marked increase in both spot and derivatives markets, with open interest reaching $8.0 billion and options open interest rising by 33.24%. This trend underscores the strong market bias towards XRP and reflects growing institutional interest and potential market shifts.

The approval of the ProShares Ultra XRP ETF has resulted in significant financial activity for Ripple Labs. The ETF's launch has led to an increased flow of funds and heightened institutional interest, driven by expectations surrounding XRP's future market performance. This event demonstrates the cryptocurrency's potential for volatility and highlights shifting investment patterns among larger market players associated with ETFs. The momentum largely stems from ETF speculation, with the rise in options open interest further underscoring this optimistic trend.

The approval of the GENIUS Act, which proposes a stablecoin framework centered around Ripple’s RLUSD, has also contributed to XRP's surge in value. This legislation, which has garnered bipartisan support, introduces a federal framework for stablecoins and is expected to serve as a gateway for increased institutional activity. The GENIUS Act passed by a majority with 308 to 122 votes, with more than 100 Democratic votes recorded in the House in favor. This legislative change is seen as a game-changer, as the figure has been attained by XRP without an ETF approval being passed.

The ProShares Ultra XRP ETF (ticker: UXRP) is now officially live, signaling a major advancement in bringing XRP to traditional financial markets through regulated investment products. This ETF is designed to deliver 2x daily exposure to the performance of XRP, allowing investors to gain amplified access to XRP price movements without the technical complexities of owning the asset directly. The launch of UXRP follows a wave of crypto ETF approvals in the United States, including spot Bitcoin ETFs approved in early 2024 and Ethereum ETFs greenlit. This shift in regulatory tone has been made possible, in part, by the legal clarity achieved in Ripple Labs’ multi-year battle with the SEC. In 2023, U.S. District Judge Analisa Torres ruled that XRP sold on secondary markets does not qualify as a security, providing the legal foundation for institutions like ProShares to launch XRP-based investment vehicles with confidence.

The ETF launch comes at a time of renewed investor interest in XRP, which recently broke its all-time high of $3.40 and surged to $3.60, hitting the 1.618 Fibonacci extension, a key level often targeted in major market rallies. With XRP now entering price discovery territory, a leveraged ETF like UXRP arrives at a strategically significant moment for investors looking to maximize exposure to future gains. The launch of the ProShares Ultra XRP ETF represents more than just another financial product; it signals a new level of institutional acceptance for XRP. By offering leveraged exposure in a regulated structure, UXRP opens the door for broader participation in the XRP market and elevates the asset’s standing among top-tier cryptocurrencies like Bitcoin and Ethereum.

Crypto analyst Armando Pantoja has forecasted three upside targets for XRP in 2025. Firstly, the analyst announced that XRP has officially entered price discovery territory after smashing through the long-standing resistance level of $2.98. This breakout now marks the possible start of another bull phase, with XRP expected to hit an immediate target of $4 soon. Pantoja’s Projections also extend to a bullish target of $6.37 and even $8.12 before the end of 2025. These targets are based on Fibonacci Extension levels and historical cycle patterns, indicating that XRP could still be in the early phases of a larger breakout.

Payment giant SWIFT has seen a significant decline in its transaction volume—a new development that coincides with a surge in transactions on the XRP ledger. The XRP ledger is gaining momentum as demand continues to surge, as evidenced by the increase in network activity, particularly the significant rise in transaction volume. The cross-border payment giant has seen an increase in bullish sentiment, validating the notion that it is bound to go mainstream in the long term. The development positions Ripple as a go-to platform with the capacity to enable long-term scalability, utility, and valuation. Additionally, the XRP ledger is emerging as a bridge between the traditional finance world and the digital currency ecosystem. Although Ripple has emerged as a strong competitor, especially after capturing 15% of SWIFT’s trading volume, one market participant believes that SWIFT could utilize Ripple in the long term. Software developer and outspoken crypto market player Vincent Van Code made a big declaration, stating that SWIFT might adopt Ripple as an alternative settlement platform. “The big surprise will be when SWIFT announces it will use Ripple/XRP as an alternative settlement for interbank payments. You don’t always have to destroy your opposition. Just scare them enough to make sure they play with you.” He wrote. He proceeded to assert that Ripple could fix the underlying problems of SWIFT, “…know this is no conspiracy, but a possible outcome.” He added.

Significant legislative advancements have emerged in the cryptocurrency sector within the United States government. Three critical bills pertaining to digital assets recently cleared the House of Representatives. Included among these is the GENIUS Act, which focuses on establishing a regulatory framework for stablecoins. With these bills progressing alongside previously approved Senate measures, the broader legislative package moves towards the desk of President Trump, marking a notable development for the regulatory landscape. Amidst this evolving regulatory backdrop, XRP achieved a major milestone, reaching a new peak valuation within the current market cycle. This marks the first time in seven years that the digital asset has surpassed its previous highest recorded valuation point, signaling renewed market attention. The surge in trading activity coincided with this milestone, evidenced by the open interest for XRP derivatives contracts reaching an unprecedented level, indicating significant capital engagement with the asset. Market observation also notes considerable transactional activity associated with key figures. Reports indicate that Chris Larsen, one of the co-founders of Ripple, executed transactions involving tens of millions worth of XRP tokens during this period of heightened market activity. Looking ahead, analysts present optimistic projections for XRP's future trajectory, albeit contingent on broader market movements. The researcher known as Ripple Van Winkle suggests that XRP has the potential to reach double-digit valuation figures in the event of a substantial rally in the leading cryptocurrency, Bitcoin. Specifically, the analysis posits that if Bitcoin attains a price level of $140,000, XRP could potentially surge into a range between $10 and $14, reflecting expectations of a significant altcoin market expansion.