XRP is experiencing a surge in investor interest. Open interest in the market has reached $4.61 billion, while the odds of an exchange-traded fund (ETF) approval have jumped to 87%. However, this optimism is tempered by delays surrounding the Grayscale ETF approval process.
🔹 Record Open Interest and Rising Trading Volume
According to data from Coinglass, XRP's open interest rose nearly 3% to $4.61 billion in the past 24 hours. At the same time, trading volume jumped over 8% to $7.73 billion. This increased activity signals that investors expect XRP prices to rise – not just due to market momentum, but also because of Ripple’s progress in obtaining banking licenses.
🔹 ETF Odds Improve – With a Catch
The likelihood of XRP ETF approval has climbed to 87%, a 16% increase. Still, the chances of approval by July 31, 2025, have dropped to just 14%. This drop is largely due to the freeze on the Grayscale Digital Large Cap Fund ETF, which was set to include XRP alongside BTC, ETH, SOL, and ADA.
Although initially approved by SEC staff, the ETF was later blocked by SEC commissioners under Rule 431(e), without providing clear reasoning. This move has raised doubts about how XRP will be handled in future ETF products.
🔹 Solana's Success Boosts Confidence in XRP
While XRP faces regulatory uncertainty, another crypto is seeing success – the U.S.-based Solana ETF launched with over $33 million in volume on its first day. That performance has further fueled optimism that ETFs for other cryptos like XRP could be next.
🔹 Investors Bullish – Leveraged ETF and Institutional Interest Growing
Market confidence is also reflected in the number of companies submitting applications for XRP ETFs, including Franklin Templeton, Grayscale, and Tuttle Capital Management, which plans to launch leveraged XRP ETFs on July 16.
Institutional interest in XRP is also on the rise, with nearly $1 billion allocated to XRP as part of sovereign reserves – a move signaling broader mainstream adoption.
🔹 Technical Outlook: Bulls May Still Strike
According to crypto analyst CasiTrades, XRP recently broke the key resistance at $2.25, triggering bullish sentiment. While a pullback to around $2.235 is possible, she identifies this zone as a potential entry point before a rally toward $2.69, especially if ETF momentum continues.
Summary
🔹 XRP is gaining investor traction and ETF speculation
🔹 Open interest has crossed $4.6 billion
🔹 ETF approval odds are high, but July remains uncertain
🔹 Technical setup supports further upside if optimism holds
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