XRP Active Wallets Surge as Traders Anticipate Final SEC Ruling; Bitcoin Closes at $93K

By Bob Mason
Updated: April 24, 2025, 10:28 GMT+00:00

Increased Interest in XRP

Recent developments in the ongoing Ripple v. SEC case have ignited significant interest in the cryptocurrency XRP. This surge in activity is largely attributed to the anticipation of a final ruling from the Securities and Exchange Commission (SEC) as optimism grows surrounding a potential appeal withdrawal following the appointment of Paul Atkins as SEC Chair.

Legal experts and traders alike are speculating that the SEC may expedite decisions impacting Ripple now that Atkins has taken office. The prospects of a favorable outcome, especially after Judge Torres’ Final Judgment, are contributing to a renewed enthusiasm for XRP, evidenced by a dramatic spike in active wallet addresses.

According to analysts, the number of active XRP addresses surged by 67.5% in the days leading up to Coinbase’s recent launch of XRP futures. This influx of activity underscores a robust rise in retail interest in the token. Pro-crypto lawyer Bill Morgan noted the convergence of these developments, stating, “Institutional and retail interest in XRP continues to increase.”

XRP Futures and Institutional Interest

The introduction of XRP futures represents a substantial milestone for the cryptocurrency, serving as a critical step towards potential approval for a spot exchange-traded fund (ETF). Futures trading can facilitate greater institutional participation in the XRP market by providing access without the traditional custody challenges.

Sal Gilbertie, CEO of Teucrium, emphasized the unique position XRP holds in the crypto landscape, remarking, “XRP is the coin with the most utility. Bitcoin is a store of value, but XRP has a true use case.” This sentiment is echoed by the recent launch of the 2X XRP ETF, which aims to double the daily price performance of XRP and further supports speculation about the forthcoming approval of an unleveraged XRP-spot ETF amidst a perceived leniency from the SEC towards leveraged products.

Market Performance and Price Outlook

As of Wednesday, April 23, XRP experienced a slight increase of 0.29%, reinforcing gains from the previous day where the token saw a rise of 6.08%, temporarily reaching $2.3007—the highest price since late March. The broader cryptocurrency market also witnessed an upward trend, with a combined market cap rising to $2.89 trillion.

Market analysts point to several factors that could influence XRP’s price trajectory in the coming weeks:

• Confirmation of a settlement in the Ripple case and potential SEC appeal withdrawal could propel XRP toward its all-time high of $3.5505.
• Rising expectations for an XRP-spot ETF could significantly impact supply-demand dynamics.
• Macro-economic indicators, including Federal Reserve policies and developments in U.S.-China trade relations, are also expected to play a crucial role in steering market sentiment.

Bitcoin Gains Amid Improved Risk Appetite

Simultaneously, Bitcoin (BTC) closed at $93,745 as the cryptocurrency market as a whole benefited from improved risk sentiment, spurred by recent U.S.-China trade developments. Following indications of a de-escalation of trade tensions, a notable 2.50% gain in the Nasdaq Composite Index was observed, which correlated with BTC’s performance.

The positive news around U.S.-China tariffs has also sparked growing demand for U.S. Bitcoin-spot ETFs. On April 22, Bitcoin ETFs recorded $912.7 million in total net inflows, marking the highest influx since January. Notably, major ETF issuers such as ARK 21Shares and Fidelity Wise Origin reported substantial net inflows.

Looking Ahead

As the markets react to these evolving circumstances, traders are encouraged to keep a close watch on ongoing developments in the Ripple lawsuit, legislative actions regarding cryptocurrencies, and macroeconomic signals. The progress made in the Ripple case could not only bolster XRP but also influence broader market trends and investor strategies moving forward.

For further insights and analysis, readers can explore our detailed XRP forecast here.

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