Vincent Van Code, a software engineer and prominent figure within the XRP community, recently highlighted notable movements in the XRP market.
Posting a chart that showed XRP gaining against USDT, BTC, and EUR while much of the broader crypto market remained flat or negative, Van Code observed a potential decoupling of XRP from Bitcoin.
He suggested that this behavior was likely linked to the approval of an XRP ETF. In his post, Van Code noted that XRP’s independent movement was unusual. “Even XLM is not in sync anymore,” he remarked, pointing to the broader impact this approval might have beyond XRP itself.
The True Impact of XRP ETFs
One community member clarified that the approved ETF was for futures, not spot trading, questioning its immediate significance. While multiple firms have applied for spot ETFs, the U.S. Securities and Exchange Commission (SEC) has yet to approve any of these products.
Van Code acknowledged this point but reiterated that the broader implication was more important than the specifics of the ETF itself. He argued that, while the futures ETF alone would not immediately generate massive trading volumes, the regulatory acceptance implied by its approval was critical.
Van Code explained that the approval of ProShares futures ETF products, which is set to launch on April 30, is symbolic, as it shows the end of regulatory headwinds. He emphasized that the approval also signals a welcoming attitude from Wall Street toward XRP, suggesting its eventual integration into mainstream financial trading systems would validate the digital asset.
