Today, there has been a noticeable spike in the price of XRP, reaching $0.531, up 3.2% over the previous day. Even though XRP has dropped 15.85% in the last 30 days, the current increase points to a turn in the tide. Simultaneously, XRP’s 24-hour trading volume increased by 12.06% to $902,311,943.
Positive improvements within the XRP ecosystem are one of the main forces for this increase. Leading analytics platform Santiment announced today that XRP Ledger has reached an important milestone. It was noted that, after more than ten years of public trade, the number of unique wallets on XRP Ledger with more than zero XRP coins is presently 5.02 million, the greatest level to date.
https://x.com/santimentfeed/status/1751042416034074950?s=20
Due to the network’s ongoing growth, the cryptocurrency—which is currently the sixth-most valuable asset in the crypto market based on market capitalization—has seen a 104% increase in wallets over the last three years. This suggests that XRP Ledger is being used more widely and has a bigger user base.
XRP ETF buzz
Investor excitement has also been bolstered by rumours around the possible launch of XRP exchange-traded funds (ETFs). Eleanor Terrett, a correspondent for FOX, emphasised that launching an XRP spot ETF requires first developing a futures ETF. Terrett clarified that the presence of a futures ETF would be a need for the establishment of an XRP spot ETF.
She emphasised that the SEC has to decide if the CME Bitcoin futures market would be sufficient to keep an eye on manipulation and fraud before approving BTC spot ETFs. Remarkably, Terrett’s remarks received prominence when it was disclosed that Ripple, the organisation that created XRP, is aggressively looking to fill the position of senior manager for business development in New York.
https://x.com/EleanorTerrett/status/1751066184487694714?s=20
The job description states clearly that the position would “drive cryptocurrency-related ETF initiatives,” which might indicate that Ripple is preparing to submit an application for an XRP ETF. The prospect of an XRP ETF, which would follow the same approval procedure as the Bitcoin spot ETF, is considered as a major advancement for the cryptocurrency.
If it is created, a futures exchange-traded fund (ETF) for XRP may open doors for regulatory clearance and wider market adoption, which would lead to the eventual creation of a spot ETF. Since good news from growing user adoption as well as possible ETF developments adds to the positive momentum now seen in the XRP market, investors and enthusiasts are keeping a careful eye on these developments.
