On December 14, a key indicator for the third-largest cryptocurrency XRP saw a significant surge. According to data provided by CoinGlass, the open interest (OI) for XRP skyrocketed by 13.3% to $3.77 billion. Open interest data helps gauge the total number of outstanding derivative contracts in the market, allowing for a better understanding of traders' exposure to a particular asset.

XRP trading volume also surged by 8.87% to $12.83 billion. The price jumped to $2.53 but soon experienced a pullback. As of the time of writing, the trading price of XRP is $2.46.

Will the XRP ETF be launched soon? Due to speculation surrounding the imminent launch of the XRP ETF, this cryptocurrency has also garnered more attention. According to U.Today, companies like Bitwise and Canary Capital have already proposed several spot ETF products. The head of BlackRock's ETF division has denied recent speculation about the company's plans to apply for an XRP ETF.

U.S. regulators, particularly the Securities and Exchange Commission (SEC), are expected to approve ETFs like SOL and XRP by the end of next year. According to U.Today, at the end of November, the asset management company WisdomTree submitted a genuine application for a spot XRP ETF. In addition, several other financial management companies have done the same this year—Bitwise, 21Shares, and Canary Capital. On Tuesday, Ripple's RLUSD stablecoin officially received approval from the New York State Department of Financial Services (NYDFS).

Ripple will be authorized to offer RLUSD to the public, marking a significant step toward its entry into the regulated digital financial market in New York and strengthening its position in the stablecoin ecosystem. RLUSD will provide a regulated alternative to Tether's $130 billion USDT, which dominates the stablecoin market. Ripple's move comes amid increasing competition, with companies like PayPal also developing stablecoins to capitalize on this lucrative industry. The U.S. Second Circuit Court of Appeals has directed the SEC to submit its final arguments by January 15, after which the court will evaluate motions to dismiss or continue part of the case.