XRP Surges 20% Post-Breakout, SEC Approves ProShares Ultra XRP ETF

XRP's latest price was $2.92, down 0.769% in the last 24 hours. XRP has recently experienced a significant breakout, marking a 20% increase from its breakout level. This surge comes after a prolonged period of consolidation between converging trendlines. The breakout projection points to a target near $5.59, indicating a calculated move based on previous structure amplitude. Despite the breakout, volume activity shows a sharp decline, with the volume-to-market cap ratio now standing at 4.51%, reflecting reduced market engagement. This deceleration in volume contrasts with the 20% price increase since the breakout. However, the momentum built during the breakout remains technically valid above the breached trendline, with the price remaining bullish and rallying with a consolidation at newly reached highs. Market participants are examining whether the volume could maintain this breakout direction over additional sessions.

XRP had been consolidating inside a symmetrical triangle for several months, with rejections at the upper and lower bounds. This led to the eventual breakout, which was the first major breakup of the bullish direction, closing cleanly on a growing trend line. The measured move from this pattern forecasts a potential extension above the $5.00 mark. Price action currently hovers above the triangle apex, indicating control remains with buyers for now. While XRP has advanced 20% post-breakout, its fully diluted valuation (FDV) is now at $279.39 billion. Total supply remains unchanged at 99.98 billion XRP, suggesting no immediate token-related dilution. Historical breakouts of this scale have previously coincided with volume spikes, which have not appeared in this case. Market participants will likely evaluate whether this divergence affects sustainability as XRP consolidates above former resistance.

XRP has recently surpassed Tether in market cap and is rapidly approaching the $3 psychological level, sparking retail fear of missing out (FOMO), attracting institutional interest, and driving a surge in non-custodial wallet setups as users move funds off exchanges. Additionally, the XRP Ledger is accelerating the adoption of XRP, thanks to enhanced support for non-fungible tokens (NFTs), decentralized finance (DeFi), and tokenized assets. Meanwhile, XRP whale accumulation has been going through the roof after surpassing 300 million coins, which might set the stage for a notable market shift. According to crypto pundit Leandrocrypto, “XRP hits a new all-time high in wallets. We just hit 7.18 million total addresses on the XRP Ledger. This milestone reflects growing adoption, massive network activity, and the increasing demand for XRP.”

In a groundbreaking move for the cryptocurrency market, the U.S. Securities and Exchange Commission (SEC) has approved the listing of the ProShares Ultra XRP ETF. The announcement was made official through a letter issued by NYSE Arca on July 14, 2025, addressed to the SEC’s Division of Corporate Finance. The letter confirms NYSE Arca’s certification of the ETF’s registration under the Exchange Act of 1934. This regulatory milestone was shared by renowned crypto commentator JackTheRippler on X, who posted the signed document, drawing massive attention from the XRP and broader digital asset communities. The ProShares Ultra XRP ETF is the first leveraged exchange-traded fund focused solely on XRP. Unlike standard ETFs, a “Ultra” ETF is designed to offer magnified exposure to the daily price movements of its underlying asset. In this case, the fund will provide investors with a 2x exposure to XRP, meaning that if XRP gains 5% in a day, the ETF could deliver approximately a 10% return, and vice versa for losses. ProShares, a veteran in the ETF space, made history in 2021 by launching the first-ever Bitcoin futures ETF. Its entry into XRP not only marks a new chapter in the diversification of crypto investment products but also underscores growing institutional demand for alternatives to Bitcoin and Ethereum.

This ETF approval follows years of legal uncertainty surrounding XRP’s regulatory status. However, the tide began to turn in July 2023, when U.S. District Judge Analisa Torres ruled that XRP sales on secondary markets do not constitute securities offerings. Though Ripple still faced penalties over institutional sales, recent developments, including the company dropping its counter-appeal and the SEC expected to follow, suggest the legal standoff is reaching its conclusion. This growing legal clarity has reignited institutional interest in XRP, with many seeing the ProShares ETF as a signal of Wall Street’s growing trust in the asset’s compliance status and long-term potential. The ETF launch coincides with major developments in Ripple’s ecosystem. The company recently rolled out RLUSD, a U.S. dollar-backed stablecoin, and continues to build momentum in real-world asset tokenization and cross-border payment infrastructure. XRP sits at the center of these efforts, providing liquidity for financial institutions and decentralized platforms alike. With XRP recently crossing the $3.00 threshold and forming bullish long-term technical patterns, many analysts believe this ETF could catalyze a fresh wave of investment, especially from hedge funds, asset managers, and crypto-savvy retail traders. The ProShares Ultra XRP ETF is not just a product; it’s a landmark. It opens the door for traditional investors to gain leveraged exposure to one of the most battle-tested digital assets. It also marks a broader shift in how XRP is perceived, no longer just as a cross-border utility token, but as a legitimate financial instrument recognized by legacy institutions. As demand for crypto investment vehicles grows, the SEC’s approval signals a maturing regulatory environment and a wider embrace of digital assets in traditional finance.

Crypto Researcher SMQKE has drawn attention to the broader significance of the ongoing legal proceedings between Ripple and the United States Securities and Exchange Commission. In a recent tweet, SMQKE stated that the conclusion of the Ripple v. SEC case would serve as a “seal of approval” for central banks and other financial institutions to begin adopting XRP through the XRP Ledger. SMQKE pinpoints that such an outcome would reduce regulatory uncertainty around the asset, which has been a key concern for institutional players considering the use of XRP in cross-border settlement and liquidity operations. A visual accompanying the tweet elaborated that settlement of the case is likely to make XRP usage by central banks and other large financial actors far less speculative than other notable cryptocurrency-related events, such as corporate bitcoin purchases. The document noted, by way of contrast, that even Tesla’s high-profile Bitcoin acquisition lacked the regulatory clarity that central banks and regulated financial entities require before adopting digital assets at scale. As of July 2025, the Ripple v. SEC case is still active. However, substantial progress has been made toward a resolution. In March 2025, Ripple and the SEC announced an agreement that would reduce Ripple’s civil penalty to $50 million, with the company no longer pursuing its appeal of the court’s earlier rulings. In return, the SEC agreed to withdraw its appeal and indicated that it would not pursue further litigation on the same issues. However, the proposed settlement is still subject to approval by the presiding judge, and key procedural steps remain. According to a Times Tabloid report, Judge Analisa Torres declined in June to vacate the injunction against Ripple immediately, citing procedural and jurisdictional reasons. The SEC still needs to complete its internal voting process, which is expected to take several weeks, before filing a formal motion to dismiss its appeal and finalize the settlement. Both parties are expected to submit an update to the court by August 15, making it the likely timeframe for the formal closure of the case. SMQKE’s remarks reflect a widely held view among XRP advocates that the resolution of the SEC lawsuit will eliminate a major obstacle to institutional adoption. Since the SEC filed its complaint in late 2020, accusing Ripple of selling unregistered securities, many U.S.-based exchanges delisted XRP, and financial institutions hesitated to incorporate it into their operations. A completed settlement, with no further legal challenge from the SEC, would confirm that XRP can be used without fear of additional regulatory enforcement, which could make it a viable option for central banks exploring distributed ledger technology for cross-border settlement.

At the XRPL Apex 2025 conference in June, Ripple CEO Brad Garlinghouse projected that XRP could handle 14% of SWIFT's liquidity volume within five years. This statement highlights Ripple's ambition to significantly expand its role in facilitating global cross-border payments through the utilization of its native cryptocurrency. Leading cloud mining platform RICH Miner has launched a new cloud mining solution specifically based on XRP. This development allows participants to engage in XRP mining activities remotely, broadening access to participation in the network. The service was officially announced on July 15, 2025.