XRP News Today: XRP Surges 27% Ahead of First ETF Launch

XRP, the native asset of Ripple, has seen a significant surge in price, jumping 27% in the past week and reclaiming the $3 level for the first time in months. This rally is largely attributed to the anticipated launch of the first XRP-linked ETF, the ProShares Ultra XRP ETF (UXRP), which is scheduled to hit the trading floor on July 18. This development has fueled bullish sentiments and expectations for XRP's price prediction in the near term.

Institutional inflows into crypto ETFs have surged to $3.7 billion last week alone, adding even more momentum to XRP’s rally. According to analysts, these vehicles have now received positive net inflows for a 13th consecutive week. On a year-to-date basis, crypto ETFs have attracted a total of $22.7 billion in capital inflows. This influx of institutional capital is a strong indicator of growing confidence in the crypto market, particularly for assets like XRP.

Despite the U.S. Securities and Exchange Commission (SEC) not yet approving a spot ETF for XRP, there is optimism within the market. Polymarket wagers indicate an 85% chance that such a vehicle will receive approval from the SEC before the year ends. The recent approval of a Solana ETF that supports staking has marked a pivotal moment for the industry, demonstrating the SEC's willingness to adopt more flexible approaches and incorporate unique characteristics of the crypto market into these funds.

XRP’s daily chart shows that the price has broken its latest consolidation and could soon retest the token’s all-time high from January 2018 of $3.84. Momentum is clearly favoring the bulls, with XRP trading volume surging in recent days. Based on the size of the current consolidation pattern, XRP could climb another 38% in the near term, potentially pushing the price to around $3.77. While a $100 target may be a long-term dream, a new all-time high looks increasingly possible.

In summary, the recent institutional inflows and the anticipated launch of the first XRP-linked ETF have significantly boosted XRP's price prediction. The growing institutional interest and the potential approval of a spot ETF for XRP by the SEC are key factors driving this bullish sentiment. As the market continues to evolve, XRP's price could see further gains, potentially retesting its all-time high and even surpassing it in the near future.