XRP News Today: Grayscale ETF Filing Puts XRP in the Spotlight; Bitcoin Dips to $107K
By Bob Mason, Published July 1, 2025, 02:24 GMT
Introduction
In a notable development within the cryptocurrency sector, Grayscale’s recent ETF filing has cast a spotlight on XRP, sparking renewed optimism about the potential approval of a spot XRP ETF in the United States. Meanwhile, Bitcoin has seen a modest pullback to around $107,000 following a short rally. Market participants closely watch regulatory moves and legislative developments which could fuel the next phase of price action for these major digital assets.
Grayscale’s ETF Filing and XRP Rally
On June 30, the U.S. Securities and Exchange Commission (SEC) formally acknowledged Grayscaleâs amendment filing seeking a rule change to convert its Digital Large Cap Fund (GDLC) into an ETF format. This ETF is planned to hold a diversified basket of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA).
As of the end of June, Grayscaleâs Fund allocation comprised nearly 80% BTC, 11.3% ETH, 5% XRP, 3% SOL, and less than 1% ADA. Approval of this ETF would mark a significant advance for altcoin representation in U.S. investment products and could pave the way for a standalone XRP spot ETF â an event viewed as a potential price catalyst for the token.
ETF Store President Nate Geraci commented on the filing saying, âSide benefit for SEC in approving GDLC is that it would provide nice âtest runâ for additional crypto assets in ETF wrapper⌠XRP, SOL, & ADA represent less than 10% combined of GDLCâs holdings. Itâs an easy way to slowly step into other assets.â
Since Grayscaleâs 2023 legal victory against the SEC on its Bitcoin Trust conversion case, which pushed the door open for BTC spot ETFs in the United States, the digital asset has recorded total net inflows surpassing $48 billion and hit a price record near $112,000 in May 2025. This precedent raises expectations that XRP spot ETF approval could similarly galvanize the XRP market.
Optimism on XRP Spot ETF Approval
Leading analysts at Bloomberg Intelligence have raised the probability of XRP spot ETF approval to 95% within 2025, with a key application deadline of October 17 looming. While Polymarket, a prediction platform, currently places the odds at 60.2%, this represents a decline from an earlier optimism peak of over 98% earlier in June.
The broader regulatory context is significant. Ripple, the company behind XRP, recently announced plans to withdraw its cross-appeal in the long-standing SEC vs. Ripple lawsuit. The SEC itself may drop its appeal concerning the Programmatic Sale of XRP ruling. These developments could clear major legal hurdles for XRP exchange-traded product approvals.
Nate Geraci shared insights into the passionate community supporting XRP, ranking XRP just behind Bitcoin in terms of investor enthusiasm on his platform, underscoring potential retail and institutional support.
XRP Price Movements and Outlook
Riding on ETF anticipation and regulatory progress, XRPâs price rose 1.42% on June 30, closing at approximately $2.24 after a 0.93% gain the previous day. This performance outpaced the broader crypto market, which declined slightly by 0.88% to a total market cap of $3.27 trillion.
Technical analysts highlight key resistance around $2.34 (June 16 high) and $2.65 (May high), with a possible bullish trajectory towards $3.40 if these are surpassed. Downside risk includes support at the 50-day and 200-day Exponential Moving Averages (EMAs), with key support near $1.93. —
Bitcoinâs Recent Price Correction
In contrasting movements, Bitcoin snapped its three-day rally on June 30, retreating 1.09% to close near $107,167. This pullback was attributed largely to profit-taking ahead of significant legislative developments in Washington, D.C.
The âOne Big Beautiful Bill Actâ (OBBB), currently under consideration, includes provisions to mitigate what some lawmakers view as unfair double taxation on miners and stakers. Senator Cynthia Lummis notably emphasized, âFor years miners and stakers have been taxed twice… Itâs time to stop this unfair tax treatment and ensure America is the worldâs Bitcoin and Crypto Superpower.â
Institutional appetite remains strong: BlackRockâs iShares Bitcoin Trust (IBIT) has been steadily acquiring BTC at a pace exceeding daily new issuance (mined supply is roughly 450 BTC/day, whereas BlackRock reportedly bought over 12,000 BTC in five days). This diminishing supply on exchanges is generating price pressure that could fuel future gains.
Bitcoin Spot ETF Market and Outlook
The U.S. Bitcoin spot ETF market has experienced some recent outflows, including $10.2 million from ARK 21Shares Bitcoin ETF (ARKB). Investors await IBITâs flow data to determine if the market can continue its streak of inflows, which has previously reached 19 consecutive days.
Price drivers for Bitcoin in the near term include Federal Reserve policy signals, ongoing global trade dynamics, regulatory updates, and ETF fund flows. Depending on these factors, Bitcoin could revisit its May 2025 all-time high near $112,000 or correct toward the $100,000 support zone.
What Investors Should Watch
- Updates from the SEC on appeals related to Ripple and Grayscaleâs ETF filings.
- Legislative developments affecting cryptocurrency taxation and regulation.
- Global trade relations and Federal Reserve interest rate policy.
- ETF fund flows, particularly for BTC and the newly filed altcoin ETFs.
These factors will be pivotal in determining the market direction for both XRP and Bitcoin in the coming weeks.
Related Coverage
- XRP Price News: Solana ETF Approval Boosted XRPâs Price â Is $3 Next?
- NASDAQ Index and S&P 500 Forecasts â U.S. Indices Pull Back Amid Market Uncertainty
- Bitcoin Price Outlook: How Regulatory and Economic Developments Could Influence BTC
For a detailed technical analysis and further insight, see the full XRP forecast here.
This article reflects market conditions as of July 1, 2025, and is for informational purposes only. Cryptocurrency investment involves risks and readers should conduct their own research or consult with financial advisors before making investment decisions.