XRP News Today: XRP Surges 68% in a Month, Breaks $3.60 on US Crypto Bills and ETF Launch

XRP, the cryptocurrency associated with Ripple, achieved a significant milestone on Friday, surpassing $3.60 for the first time in its history. This surge was driven by a series of positive developments that have reshaped the regulatory and market landscape for the asset. The token reached a peak of $3.64, marking an increase of nearly 68% over the past month. This rally was fueled by several key catalysts, including the passage of three major crypto bills in the US House of Representatives. These bills, notably the GENIUS Act and the CLARITY Act, aim to provide legal clarity for digital assets, which has been a long-standing demand from the industry.

Adding to the momentum, ProShares is set to launch the first XRP futures ETF in the US. This move is expected to open the door for broader institutional participation in the XRP market, which has traditionally been less accessible to traditional investors. The launch of this ETF is seen as a significant step towards greater institutional involvement in the cryptocurrency space. Additionally, several major asset managers, including Franklin Templeton, Grayscale, 21Shares, and Bitwise, have filed applications linked to XRP investment products. These filings indicate growing confidence in the long-term potential of XRP.

On the regulatory front, there is anticipation of a potential breakthrough. Market speculation suggests that the US Securities and Exchange Commission (SEC) may soon drop its appeal in the high-profile Ripple case. If this occurs, it would solidify a 2023 court ruling that determined XRP sales to retail investors do not constitute securities offerings under US law. This development could further boost investor confidence in XRP. Prediction markets also reflect this optimism, with platforms like Polymarket assigning an 88% probability that a spot XRP ETF will be approved by December 2025. Traders are closely monitoring key dates in July, including July 21 and July 25, when leveraged ETF proposals could be finalized, potentially triggering broader adoption of XRP-based ETFs.

Derivatives market activity has also surged in response to these developments. Data from Coinalyze shows that XRP open interest jumped 25% in the past 24 hours, reaching $4.6 billion. This increase is primarily concentrated in perpetual contracts, with Binance and Bybit dominating the market, holding $1.8 billion and $1.6 billion in open interest, respectively. Additionally, CoinGlass data indicates that XRP liquidations reached $88.54 million in the past 24 hours, higher than Bitcoin’s $79.67 million and second only to Ethereum’s $206.65 million. The liquidations were heavily skewed toward short positions, suggesting that many traders were caught off guard by the sudden price jump. Overall, the crypto market saw widespread liquidations, with more than 153,000 traders wiped out in a single day, totaling $577 million in lost positions. XRP played a major role in driving this volatility.

The rally’s strength appears to be gaining solid support from rising institutional interest and whale accumulation. Analysts now view a breakout toward $4 as a realistic short-term target. XRP’s rise marks a sharp turnaround for the token, which has been weighed down by regulatory uncertainty for much of the past three years. With fresh legislative clarity, ETF momentum, and strong market support, XRP seems to be entering a new era of legitimacy. This development is expected to attract more investors and further solidify its position in the cryptocurrency market.