XRP Price Surge and ETF Speculation
In recent developments, XRP has experienced a significant price increase of 21.61% over the past week, driven by speculation surrounding the potential withdrawal of the SEC's appeal in the Ripple case and the anticipated approval of an XRP-spot ETF. This surge has allowed XRP to extend its winning streak to five consecutive days, despite a minor gain of 0.20% on Saturday, July 12, following a notable rally of 7.31% the previous day, closing at $2.7379.
Market Performance
During this period, XRP has outperformed major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), which saw gains of 6.85% and 14.68%, respectively. The overall crypto market cap stands at $3.61 trillion, reflecting a slight decline of 0.16%.
ETF Approval Speculation
Pro-crypto lawyer Bill Morgan highlighted the remarkable performance of XRP, especially in light of BlackRock's substantial acquisitions of Bitcoin and Ethereum, despite XRP not yet having a spot ETF. The optimism surrounding the SEC potentially dropping its appeal against the Programmatic Sales ruling has fueled expectations for the approval of XRP-spot ETF applications. According to Polymarket, the odds of an XRP-spot ETF approval by December 2025 have risen to 88%, up from 75.9% in late June.
Grayscale and SEC Developments
On July 1, the SEC approved a rule change to convert Grayscale’s Digital Large Cap Fund into an ETF, which includes XRP among other cryptocurrencies. However, the SEC issued a stay order delaying the launch, prompting Grayscale to contest this decision. The removal of the stay order could expedite the approval process for XRP-spot ETFs, and a new framework for crypto-spot ETF filings could encourage BlackRock to file for an XRP-spot ETF.
XRP Price Outlook
The near-term price outlook for XRP is closely tied to developments regarding the SEC's appeal and ETF news. If the SEC withdraws its appeal, XRP could aim for its all-time high of $3.5505, with ETF approval potentially driving the price towards $5. Currently, XRP is trading above both the 50-day and 200-day Exponential Moving Averages, indicating bullish momentum. A breakout above the recent high of $2.9727 could lead to further gains, while a drop below $2.6 may expose the 50-day EMA.
Broader Market Influences
XRP remains sensitive to external factors, including macroeconomic conditions and regulatory developments. The token previously reached a high of $3.3999 in January 2025, driven by optimism surrounding the Ripple case and supportive signals from political figures. Moving forward, legislative updates, SEC appeal news, and ETF-related announcements will be critical in shaping XRP's performance.