Ripple News Today- Will BlackRock File XRP ETF?

The post Ripple News Today- Will BlackRock File XRP ETF? appeared first on Coinpedia Fintech News

XRP is showing strong momentum again as growing hopes around a potential BlackRock spot ETF filing spark investor excitement. The token jumped over 6% today and has outperformed the overall crypto market this week.

On-chain data from Santiment shows XRP price is gaining traction among large holders. A total of 2,742 wallets now hold at least 1 million XRP, just one short of the all-time record. At press time, XRP is priced around $2.56, up 6.15% in 24 hours and nearly 14.86% over the past week. It remains the fourth-largest cryptocurrency with a market cap of $151.728 billion.

BlackRock XRP ETF Speculation Builds

Speculation about BlackRock’s potential spot XRP ETF filing has resurfaced after crypto community members, including Xaif Crypto, hinted that the move could be imminent. Although nothing is official yet, XRP and Solana (SOL) are believed to be next in line for ETF filings. This excitement comes as Ripple’s legal battle with the SEC nears its end, possibly opening doors for broader institutional access.

Other ETF developments are also adding to the buzz. ProShares’ Ultra XRP ETF (UXRP) was recently added to the DTCC product list, and Truth Social’s ‘ Crypto Blue Chip ETF ’ filing also includes XRP. Multiple XRP-related ETF proposals are now awaiting review, with key decision dates lined up in July, starting July 14 with ProShares’ trio of futures ETFs, followed by leveraged and volatility-focused funds later in the month.

Ripple XRP – Growing Institutional Demand

Interest from institutions is already picking up. The Teucrium 2X Long Daily XRP ETF (XXRP), which launched in April, has consistently attracted weekly inflows and is nearing $160 million in assets despite a high 1.89% expense ratio.

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JPMorgan analysts predict a spot XRP ETF could receive approval later this year and may draw up to $8 billion in its first year, potentially boosting XRP’s price significantly. The SEC is currently reviewing over ten spot XRP ETF applications, with final decisions expected in October. If approved, these ETFs could open the doors to greater institutional access and boost overall market demand for XRP.

What’s Next for XRP Price?

Currently, XRP is trading near $2.58. A push above $2.60 could open the door to $3. Analyst Javon Marks sees potential for a rally toward $9.63 if momentum holds. However, a drop below $2.50 could lead to support retests at $2.40 or $2.30.

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