XRP Soars 14% Amid ETF Rumors and New SEC Chair
Key Takeaways
- Rumours surrounding an XRP ETF (Exchange-Traded Fund) trigger a price surge of over 14%
- New SEC Chair Paul Atkins is considered crypto-friendly – raising hopes for regulatory easing
- Market data indicates growing interest from institutional investors
- A potential ETF could strengthen XRP in the long term, though short-term volatility remains likely
What’s Behind the XRP Price Surge?
On April 9, the U.S. Senate confirmed Paul Atkins as the new Chair of the U.S. Securities and Exchange Commission (SEC). Atkins is known for his crypto-friendly stance. His appointment has sparked speculation about a potential shift in the SEC’s position on Ripple (XRP).
At the same time, it was revealed that the SEC and Ripple jointly requested a suspension of the ongoing appeals process. Analysts interpret this as a signal that the agency under Atkins may be considering dropping the lawsuit.
These developments led to a noticeable price increase: within a single day, XRP rose by over 14%, surpassing the US$2 mark.
Why an XRP ETF Is Getting So Much Attention
An ETF (Exchange-Traded Fund) is a publicly traded fund that tracks an asset – in this case, XRP. It would provide institutional investors with regulated access to XRP without requiring them to hold the cryptocurrency directly.
Speculation about a possible XRP ETF gained momentum with Atkins’ appointment. If the SEC changes its stance on Ripple, it could pave the way for ETF approval. This would lend XRP more legitimacy and attract new capital inflows.
Market Data Indicates Growing Confidence
Following the news, open interest (outstanding futures contracts) for XRP rose from US$2.87 billion to US$3.26 billion. On trading platform Binance, long positions accounted for around 70% of the XRP/USDT market – a strong signal of bullish sentiment.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 3 minutes
-
Christmas Slots – Best Christmas-Themed Slot Machines
Reading time: ~ 3 minutes
-
Easter Slots – Best Easter-Themed Slot Games
Reading time: ~ 3 minutes
-
Food and Drink Slots: The Best Slot Games Inspired by Culinary Delights
Reading time: ~ 3 minutes
-
Space Slots – Best Space-Themed Slots
Reading time: ~ 3 minutes
In addition, the number of wallets holding more than 10,000 XRP reached a new high of nearly 300,000. These addresses now represent about 4.28% of all XRP wallets. This suggests growing interest from larger – potentially institutional – investors.
Risks Remain
Despite the positive signals, XRP remains vulnerable to short-term fluctuations. Many short-term investors have taken profits in recent weeks. These sell-offs can lead to volatility.
Regulatory outcomes are also still uncertain. A potential withdrawal of the SEC lawsuit or ETF approval remains speculative. If events unfold differently than expected, recent gains could quickly be reversed.
Our Assessment
The recent developments surrounding XRP show how strongly political and regulatory events can influence the crypto market. The appointment of a crypto-friendly SEC Chair and ETF rumours have led to significant price movements.
An XRP ETF could be a major milestone – especially for institutional investors. But there is still a long road ahead. In the short term, XRP remains volatile. Investors should be aware of the risks and closely monitor regulatory developments.
In the long term, XRP could benefit from clearer regulation and institutional interest. The coming weeks are likely to be decisive.
Sources
- TradingView (XRP/USDT)
- Glassnode
- U.S. Senate – Confirmation of Paul Atkins
| Symbol | XRP |
| Coin type | Alt Coin |
| Transaction Speed | High |
| Pros |
|
| Cons |
|
| Further practical applications | |
| Price | $2.19 |
| 24h % | 1.85 % |
| 7d % | 5.56 % |
| 30d % | -11.29 % |
| 60d % | -11.93 % |
| 1y % | 317.37 % |
| Official Links | Website |
| Socials | X |
Advertising transparency