### Surge in XRP ETF Volume Sparks Market Excitement
Bloomberg Intelligence Senior ETF Analyst Eric Balchunas has highlighted a significant development in the cryptocurrency market: the surging volume of XRP exchange-traded funds (ETFs). According to Balchunas, the volumes have spiked to an impressive 4-5 times the norm, particularly for the 2x leveraged ETF XXRP, which experienced a remarkable 27% increase in a single day and a stunning 55% rise over the week, with a trading volume of $120 million. This activity indicates strong investor interest and confidence in XRP and its associated funds, and it’s a trend that underscores the evolving landscape of cryptocurrency investments.
### Teucrium’s Strategic Launch
The Teucrium 2x Long Daily XRP ETF, which launched in April 2025, has been at the forefront of this ETF surge. This fund aims to deliver double the daily price performance of XRP, making it an enticing option for investors seeking amplified exposure to the asset. The impressive performance of XXRP suggests a burgeoning demand for U.S. spot ETFs focused on XRP, possibly eclipsing the demand for U.S. ETH-spot ETFs. Such trends could significantly reshape the market, making XRP a front-runner in ETF investments.
### Ripple Case and ETF Approval Dynamics
The ongoing legal battle surrounding Ripple Labs has been a pivotal factor influencing the regulatory landscape for XRP. A favorable resolution to the Ripple case could unlock a pathway for expedited approval of pending XRP-spot ETF applications. Notably, industry titan BlackRock is reportedly considering filing for an XRP-spot ETF, which would be a game-changer. Such a filing could catalyze institutional investor engagement and further legitimization of XRP in the eyes of the financial markets.
### Grayscale’s Strategic Moves Against the SEC
Adding another layer of tension, Grayscale has recently escalated its battle with the SEC. The SEC approved Grayscale’s filing to convert its Digital Large Cap Fund (GDLC) into a Digital Large Cap ETF on July 1. This fund offers exposure to a diversified array of cryptocurrencies, including BTC, ETH, ADA, SOL, and XRP, but the SEC concurrently issued a stay order that temporarily halted the fund’s launch.
On July 11, a development emerged when Bloomberg Intelligence Analyst James Seyffart reported that Grayscale’s legal team responded to the SEC’s stay order, arguing that the SEC lacked the authority to impose such a delay. The outcome of this legal challenge is poised to attract significant attention, especially in light of Grayscale’s previous success in converting the Grayscale Bitcoin Trust into a spot ETF. This victory had a profound impact on the BTC market, resulting in significant inflows that helped drive the price of Bitcoin above $100,000.
### XRP’s Performance in the Broader Crypto Market
As the XRP market navigates these developments, its price has shown notable resilience. On July 11, XRP surged by 7.31%, building on a 5.84% gain from the previous day. This performance outpaced the broader crypto market, which rose by 1.40%, resulting in a total market capitalization of $3.62 trillion. As XRP strives to regain momentum, it’s essential to understand that its price trajectory is inextricably linked to the SEC’s appeal vote, ongoing U.S. crypto legislation, and the future of XRP-spot ETFs.
### Price Projections and Market Sentiment
Looking ahead, XRP’s near-term price action remains delicate, with critical resistance and support levels at play. A breakout above the July 11 high of $2.9727 could open the door to a rally towards the 2025 high of $3.3999. Sustaining movement beyond this level may position XRP to target its all-time high of $3.5505 reached in 2018. Conversely, should the price dip below $2.50, the token could test lower support levels around $2.40 and potentially $2.30, signaling a more bearish outlook.
