Ripple’s XRP is making headlines as the cryptocurrency posts a spectacular price rally and approval of several ETFs. Ripple CTO David Schwartz states that despite recent price appreciation, XRP is still undervalued in relation to its utilization.
SEC Approves ProShares XRP ETF
On July 14, 2025, the US Securities and Exchange Commission (SEC) approved listing of the ProShares Ultra XRP ETF on NYSE Arca. The ETF, which provides 2x daily exposure by using futures contracts, will soon become available. This approval marks a pivotal moment for XRP, as it represents the first XRP-linked product approved for public trading in the United States.
ProShares’ Ultra XRP ETF aims to derive leverage of the XRP price movement without the investors having to physically hold the asset. The fund’s structure is designed for short-term trading, appealing to investors looking for volatility. The decision comes with huge market demand, with the coin making a price increase of around 25% over the last week.
3iQ XRP ETF Hits $50 Million Milestone
In Canada, 3iQ’s XRP ETF has gained traction, with assets of more than $50 million after being listed for just 23 days. Introduced to the list on June 18, 2025, the ETF provides exposure to Ripple token without incurring a management fee for six months. Such a quick boost suggests growing institutional demand for XRP, especially as it is now eligible to be held in Canadian retirement accounts.
David Schwartz is specific about the application of the token, and he maintains that its application as a wrapped token on other networks is what will drive it to success in the long run. As XRP’s mainstream adoption increases, its price is expected to reflect its utility value.
Future SEC Vote on Ripple Case
Other breaking news involves rumors surrounding the SEC’s planned vote on July 17 on the case against Ripple. Cryptocurrency enthusiast BALE, via a tweet, has claimed that the SEC was planning to drop the case. However, this claim has drawn skepticism due to a lack of official confirmation from the SEC. Some of the community warns against believing unsubstantiated rumors.
The SEC usually holds regular meetings, but it has not published an official agenda regarding Ripple. Investors must wait for official SEC reports regarding any upcoming decisions.
Market Sentiment and Future Outlook
The recent price surge of XRP, which now trades around $2.84, is seen as a precursor to potential all-time highs. Moreover, analysts are hopeful, drawing inspiration from the bullishness that followed after Ethereum broke the $3,000 barrier. Technical indicators point towards the coin breaching to its earlier high of about $3.4.
Overall, the recent ETF approval and sharp price rally are signs of increasing confidence in XRP. As Ripple aims to raise the adoption of XRP, market observers are closely monitoring regulatory news, such as the upcoming vote by the SEC.
