The XRP price is on the verge of a 35% surge to its year-to-date high as inflows into the Teucrium 2x Long Daily XRP ETF continue.
Ripple (XRP) was trading at $2.5270 on Tuesday, reflecting a remarkable recovery—up over 55% from its lowest level this year. This rally has pushed the token’s market valuation close to $150 billion, indicating renewed investor confidence and interest in XRP.
Recent data reveals that the Teucrium 2x Long Daily XRP ETF (XXRP) has experienced consistent inflows for five consecutive weeks. This trend has propelled its total assets to over $99.1 million, including a $14 million addition last week alone, a notable increase from the previous week’s $10 million. Such significant inflows underscore growing investor appetite for XRP-related investment products.
The significant growth of the XXRP ETF highlights a rising demand for XRP-linked products, even in light of its relatively high annual management fee of 1.89%. For context, the ProShares Bitcoin ETF charges a more modest expense ratio of 0.95%, which illustrates how investors remain committed to XRP despite the cost.
Optimism surrounding regulatory developments also plays a pivotal role in this surge. Many market participants anticipate that the U.S. Securities and Exchange Commission (SEC) will soon approve spot XRP ETFs from prominent firms such as Franklin Templeton, Grayscale, 21Shares, Canary, and CoinShares. According to data from Polymarket, the current odds of SEC approval have climbed to an encouraging 80%, enhancing investor sentiment toward XRP.
Analysts are particularly bullish on the potential impact these approvals could have. JPMorgan estimates that newly approved spot XRP ETFs could attract up to $8 billion in inflows during their inaugural year—potentially overshadowing the inflows Ethereum ETFs have seen since their acceptance last September.
Beyond the ETF updates, XRP has several additional bullish catalysts that may further boost its price. Ripple Labs has made strategic strides in the stablecoin market with its Ripple USD (RLUSD) token, which boasts a market cap of over $300 million. Furthermore, the company is reportedly in negotiations with Circle, the issuer of USD Coin, the second-largest stablecoin by market capitalization, which could significantly enhance Ripple’s position in the digital finance landscape.
Additionally, Ripple Labs’ acquisition of Hidden Road—a prime brokerage firm—signals its ambition to expand into institutional and international markets. This move aligns with the company’s broader goals to solidify its presence in the cross-border payment industry, presenting further opportunities for growth.
XRP Price Technical Analysis
A look at the daily chart shows that XRP has rebounded strongly after hitting a low of $1.6218 in April. The price has recently surged past the critical 50-day moving average, suggesting that bullish momentum is gaining traction. Notably, XRP has formed an inverse head-and-shoulders pattern—considered a classic bullish reversal formation. The pattern’s head rests at $1.6218 while the shoulders are situated around the $2 mark, signifying potential upward movement.
The Average Directional Index (ADX) has also shifted to 20, indicating that the current trend is strengthening. Analysts suggest that XRP is on track to rally further, targeting a year-to-date high of $3.40—an impressive increase of 35% from its current level.
