XRP News Today: XRP Surpasses USDT, Targets ETH for Second Place; Bitcoin Surges to $118,000
By Bob Mason | Updated: July 12, 2025, 14:15 GMT
In a remarkable turn of events in the cryptocurrency market, XRP has surged past Tether (USDT), setting its sights on Ethereum (ETH) for the coveted #2 spot by market capitalization. Meanwhile, Bitcoin (BTC) reached a new all-time high of $118,288, driven by strong institutional inflows and bullish regulatory developments.
XRP’s Bullish Momentum Fueled by SEC Developments and ETF Speculation
XRP rose over 7% on Friday, July 11, following a 5.84% gain the day before, closing at $2.7324—its highest level in five months. This surge comes amid growing investor optimism that the U.S. Securities and Exchange Commission (SEC) might drop its appeal in the long-running SEC vs. Ripple lawsuit.
Unlike previous SEC closed meetings that led to XRP price drops, the latest session failed to produce a vote on the appeal, which investors interpreted positively. On Capitol Hill, the regulatory environment for digital assets appears to be shifting. Instead of confrontational hearings, industry leaders are now offering constructive testimony.
Ripple’s CEO Brad Garlinghouse testified before the Senate Banking Committee on the prospects and regulatory framework of digital assets in a hearing titled “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets.” He emphasized the court rulings favoring Ripple, especially that XRP itself was not deemed a security. Garlinghouse criticized the SEC’s approach as inconsistent and arbitrary, highlighting Federal judges’ rebukes of the agency’s legal tactics.
XRP-Spot ETFs Gain Traction as Market Confidence Grows
The anticipated regulatory clarity has intensified demand for XRP-related exchange-traded funds (ETFs), particularly the Teucrium 2x Long Daily XRP ETF (XXRP), which launched in April 2025. XXRP registered a staggering 4 to 5 times surge in volume, climbing 27% on the day and 55% during the week, with $120 million traded.
Bloomberg Intelligence Senior ETF Analyst Eric Balchunas noted the strong interest in XRP ETFs could even position them to outperform U.S. Ethereum-spot ETF offerings once approvals materialize. An end to the Ripple case could accelerate the approval of pending XRP-spot ETF filings. Rumors also hint that BlackRock might file an XRP-spot ETF application contingent on the lawsuit resolution, highlighting XRP’s growing institutional appeal.
Grayscale Challenges SEC, Adding Pressure for ETF Approvals
Adding fuel to the bullish sentiment, asset manager Grayscale pushed back against the SEC’s delay of its Digital Large Cap Fund (GDLC) ETF conversion, which would grant investors diversified crypto exposure, including XRP. On July 1, the SEC approved the rule change for conversion but immediately issued a stay postponing the launch.
On July 11, Grayscale’s legal team contested the SEC’s authority to impose such a stay, echoing their successful 2023 appeal that paved the way for the first BTC-spot ETFs in the U.S. This legal tussle is closely watched as it could influence the fate of other crypto ETFs, including those related to XRP.
Bitcoin Rockets to New Heights on ETF Inflows and Regulatory Optimism
Bitcoin’s breakout rally reached an unprecedented $118,288 on July 11 (Binance exchange), propelled by record ETF inflows, dovish Federal Reserve expectations, easing recession fears, and progress on crypto-friendly legislation like the CLARITY Act.
U.S. BTC-spot ETFs have recorded inflows exceeding $1.17 billion on July 10, marking six consecutive days of capital entering these funds. July 11 was on track to extend this streak to seven sessions, underlining sustained investor enthusiasm. Notable inflows included:
- ARK 21Shares Bitcoin ETF (ARKB): $23.5 million
- Grayscale Bitcoin Mini Trust (BTC): $20.9 million
- VanEck Bitcoin ETF (HODL): $20 million
Pending reporting from BlackRock’s iShares Bitcoin Trust (IBIT), total ETF inflows for the day approached $76.1 million. The BTC-spot ETF market has attracted $7.1369 billion in net inflows over 22 of the last 23 sessions, a testament to its growing dominance in crypto investment.
XRP’s Price Outlook: Breaking Key Resistance Levels
XRP’s immediate price trajectory depends heavily on upcoming SEC developments, U.S. crypto legislation outcomes, and the progress of XRP-spot ETF approvals. A decisive breakout above the July 11 high of $2.9727 could pave the way toward the 2025 peak of $3.3999. If bullish momentum sustains beyond that, XRP could challenge its all-time high of $3.5505 reached in 2018. Conversely, a fall below $2.50 might expose support at $2.40 and potentially $2.30, marking critical levels for market watchers.
Summary
- XRP surged 7.31% on strong hopes of the SEC dropping its appeal and ETF-related demand.
- Bitcoin hit a new all-time high of $118,288 on record ETF inflows and positive regulatory news.
- XRP ETFs, especially the leveraged XXRP, saw massive spikes in volume and price, signaling investor confidence.
- Ripple CEO’s Congressional testimony reinforced the token’s favorable legal position.
- Grayscale’s legal challenge to the SEC stay order adds pressure for further ETF approvals.
The cryptocurrency market is witnessing a pivotal moment with XRP on the cusp of disrupting Ethereum’s standing and Bitcoin breaking new heights backed by institutional and regulatory momentum. Investors will be closely monitoring upcoming SEC decisions and legislative developments shaping the future of digital assets in the U.S.
For detailed XRP technical analysis and forecasts, explore our full XRP forecast report.