XRP Interest Surges Ahead of SEC Ruling as Bitcoin Approaches $100K
April 24, 2025
By Bob Mason
The cryptocurrency market is buzzing with renewed interest in XRP as traders closely monitor the situation surrounding the final ruling from the U.S. Securities and Exchange Commission (SEC) regarding Ripple’s ongoing legal battle. The crypto landscape is also witnessing a rise in Bitcoin’s (BTC) value, inching closer to the $100,000 mark.
Active XRP Wallets Reach New Heights
Recent trends indicate a significant uptick in XRP’s popularity. Active wallets for XRP have surged by an impressive 67.5% as traders anticipate the launch of XRP futures trading on Coinbase. This surge in activity comes amid growing optimism surrounding a potential SEC decision to withdraw its appeal in the Ripple case following the appointment of Paul Atkins as the new SEC Chair.
Experts in the crypto legal community suggest that the SEC may be waiting for Atkins to officially take office before making crucial decisions regarding Ripple’s legal standing. “The recent activity reflects a growing sentiment towards a positive conclusion in the Ripple case,” noted Bill Morgan, a pro-crypto attorney. He highlighted that the spike in active XRP addresses is closely linked to the forthcoming launch of XRP futures, further increasing retail interest.
The introduction of XRP futures could pave the way for the approval of a spot Exchange-Traded Fund (ETF), which would significantly enhance institutional access and overall market legitimacy for XRP. According to Sal Gilbertie, CEO of Teucrium, “XRP is the coin with the most utility. While Bitcoin serves primarily as a store of value, XRP has true use cases.”
The Road to XRP-Spot ETF Approval
Earlier this month, the launch of the first U.S. XRP ETF, the 2X XRP ETF, which aims to deliver double the daily price performance of XRP, added further fuel to market speculation regarding the possible approval of a spot XRP ETF by the SEC. Market analysts are viewing the evolving situation with cautious optimism. XRP’s price recently rose 0.29%, consolidating gains following a robust rally earlier in the week, and the token is currently trading around $2.22. Looking ahead, several key drivers are set to influence XRP’s trajectory: a favorable settlement in the Ripple case, increasing expectations for spot ETF approval, and macroeconomic factors such as Federal Reserve policy and U.S.-China trade relations.
Bitcoin’s Resurgence
Alongside XRP’s developments, Bitcoin appears to be rallying as positive sentiment returns to markets, closing at approximately $93,745 after a 0.39% increase. The recent optimism is heavily tied to improved U.S.-China trade relations, as President Trump’s administration hinted at potential tariff reductions, creating a more favorable climate for riskier assets like cryptocurrencies.
The BTC spot ETF market also experienced a surge, with net inflows of over $912.7 million recorded on April 22, marking a notable recovery since January. Financial analysts suggest that the renewed confidence in BTC-spot ETFs is a clear indicator of bullish market sentiment. Eric Balchunas, a notable market analyst, remarked, "The spot bitcoin ETFs went Pac-Man mode yesterday, displaying a strong flow depth."
Looking Ahead
Investors are advised to keep a close watch on key developments including the outcome of the Ripple lawsuit, ongoing updates on U.S.-China trade negotiations, and the commentary from central banks. As the cryptocurrency market evolves, the potential outcomes of these factors could play a significant role not only in XRP’s future but also in the broader market dynamics. With XRP on the brink of potentially reaching new highs, the coming weeks will be crucial for discerning the trajectory of both XRP and Bitcoin in the fast-evolving landscape of digital currencies.
For real-time updates and insights, follow our ongoing coverage of these market developments.
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