- XRP price could be gearing up for a rebound to the $3 line.
- This comes amid the latest developments within its ecosystem last month, which included large whale accumulations, regulatory milestones, and building anticipation for the launch of XRP exchange-traded funds (ETFs).
XRP Whale Accumulation in April
According to Ali Martinez, a popular crypto investor and trader on X, XRP significantly gained plenty of whale interest last month, leading to around 900 million worth of its supply falling into the hands of investors. The numbers meant around $1.44 billion to $2.124 billion accumulation for this segment of investors in April as prices fluctuated at approximately $1.60 to $2.36.
Meanwhile, technical readings suggest that XRP price has been testing a key resistance at $2.25 in the past few days. Given the ongoing weakness in its movements, it could revisit $1.90 to $2 soon, which would serve as a critical support zone.
Analysts like Vlad Hryniv at the CoinMarketCap forums believe the figures would be a healthy consolidation for XRP. If the digital asset somehow bottoms within the said levels, the digital reporter stated that the token’s reclamation and successful defense of the $2.25 territory could be a launchpad to $2.68 and would put $3 back on the table.
Nonetheless, the analyst warned that narratives move faster than fundamentals. Hence, investors and traders must always be vigilant when traversing the inherently volatile crypto market.
Regulatory Developments
The reported meeting between Ripple founder Chris Larsen and US Securities and Exchange Commission (SEC) Chair Paul Atkins amplified optimism in XRP. But then again, the lack of updates regarding the matter has largely kept members of the crypto community on the edge of their seats.
Along the way, Ripple Chief Legal Officer Stuart Alderoty explained why the SEC eventually dropped its case against their company in a new video. The lawyer highlighted that besides Ripple, the regulator has abandoned its other cases against other crypto companies in the US.
Alderoty claimed that the SEC has already admitted that it cannot bring enforcement action for violating the law without first explaining what the law is. The agency also acknowledged that the country never had clear laws about crypto and other digital assets in the first place.
The crypto industry sees this as a momentous occasion that solidifies the SEC’s efforts to pivot from its anti-crypto stance toward a more favorable position. Alderoty pledged Ripple’s cooperation in the new regime to bring its vision of having regulatory clarity for digital assets going forward.
ProShares XRP Future ETF Launch
In another related news, ProShares recently clarified why it didn’t launch its new XRP futures ETF on April 30, as what several sources reported at the start of the week. The expectation for its market rollout during that date apparently came from the SEC’s approval of its application for the Ultra XRP ETF, the Short XRP ETF, and the Ultra Short XRP ETF with 2x leverage a few days ago.
The sources previously obtained the information from ProShares’ Form N-1A Registration Statement with the regulator. The document indicated that the schedule for the Proposed Public Offering of the new investment products was on April 30, 2025.
However, a new post-affective amendment ProShares submitted to the SEC revealed that it moved the launch schedule to May 14, 2025. Yet, reports say it is just another tentative schedule. In reality, it is only waiting for the SEC to green-light the launch of a spot XRP ETF before launching its XRP futures ETF.
The aforementioned events are among the most anticipated happenings that could reinforce the momentum of XRP price in the near future.
