XRP Gains Momentum Following Brazil’s Approval of First XRP-Spot ETF

By Bob Mason
Published: April 28, 2025, 01:36 GMT+00:00

XRP is experiencing a significant increase in value, driven by recent positive developments in the cryptocurrency space. The news that Brazil has approved the first-ever XRP-spot Exchange-Traded Fund (ETF), combined with upcoming XRP futures ETFs set to launch in the United States, has sparked optimism among investors and the broader crypto community.

XRP Price Surge Amid ETF Developments

On April 27, XRP saw a rally of 2.79%, following the announcement that ProShares secured regulatory approval to launch three XRP Futures ETFs on April 30. These funds—the ProShares UltraShort XRP ETF, ProShares Ultra XRP ETF, and ProShares Short XRP ETF—will offer investors exposure to XRP futures contracts, swaps, and cash balances, giving them a means to invest in XRP indirectly without holding the token itself.

Despite the ETFs being futures-based rather than direct spot products, the approval has been met with enthusiasm. Prominent crypto attorney John E. Deaton tweeted a message reflecting on the rapid changes in the regulatory landscape: "What a difference a couple of years and one election can have."

The launch of these futures ETFs potentially paves the way for the introduction of an XRP-spot ETF market. Historically, futures ETFs have preceded the arrival of spot ETFs; ProShares’ own Bitcoin Futures ETF, launched in October 2021, came well before the first Bitcoin spot ETFs began trading in January 2024. Investors are now hopeful that the U.S. Securities and Exchange Commission (SEC) will grant approval for pending XRP-spot ETFs by October 2025. Analyst James Seyffart from Bloomberg Intelligence suggested there remains a strong possibility for such approvals in the near future, given that final decisions are not expected until late in the year.

Historic Launch of XRP-Spot ETF in Brazil

In another significant development, Brazilian crypto asset manager Hashdex has announced the launch of its XRP-spot ETF, marking a historic moment in the cryptocurrency market. This new product is a physical ETF, providing direct exposure to XRP, as opposed to a futures-based or synthetic version.

Stellar Expert, a notable figure in the crypto community, touted the launch as groundbreaking, stating, "Hashdex’s Spot XRP ETF launch in Brazil is historic. The floodgates are open." Brazil’s growing crypto market, which ranks among the largest and fastest-growing globally, has set a precedent that many believe could encourage other nations to follow suit, especially as they examine their own ETF regulations.

Furthermore, the odds of a U.S. XRP-spot ETF approval by December 2025 have been bolstered, rising to 78% from 68% just a few days prior. However, investors remain cautious due to the SEC’s ongoing appeal regarding its ruling on XRP’s programmatic sales, which could impact overall sentiment in the market.

The XRP Market Outlook

With XRP closing at $2.2527, the token’s price has shown strength amid broader market fluctuations. Key drivers for XRP’s future include the potential outcome of settlement negotiations between Ripple and the SEC, anticipated developments surrounding a U.S. XRP-spot ETF, and general macroeconomic influences such as Federal Reserve policy changes and U.S.-China trade relations.

Near-term technical levels indicate support around $2.10, while a price breakout above $2.50 could open pathways toward $3 and the all-time high of $3.5505. ## Bitcoin’s Performance and Future Considerations

While XRP experiences gains, Bitcoin (BTC) faced a slight pullback after touching the $95,000 mark. As of April 27, Bitcoin closed down 0.99% at $93,802. The market anticipates a pivotal week with key U.S. economic data on the horizon, adding an element of caution among investors.

The week has already seen substantial inflows into Bitcoin ETFs, totaling $3.033 billion, marking a significant milestone since the first U.S. Bitcoin-spot ETF launch in January 2024. As easing U.S.-China trade tensions promote a favorable investment climate, Bitcoin has been positioned as both a high-risk asset and a potential safe haven.

The ongoing dynamics in the cryptocurrency market highlight the volatile but promising landscape that both XRP and Bitcoin inhabit. Investors are advised to stay informed on both legal developments regarding XRP and broader economic indicators to navigate the complexities of this evolving market.

What to Watch

Moving forward, stakeholders and investors should keep a close eye on Ripple’s court filings, trade negotiations involving the U.S. and China, and signals from central banks regarding interest rates. The upcoming weeks will be crucial in determining the trajectory of XRP and Bitcoin amid fluctuating market sentiments and regulatory developments.

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