#XRPETF XRP has recently made breakthroughs in compliance and institutionalization: Brazil's first XRP spot ETF (XRPH11) has been listed, with 95% of assets allocated to XRP spot, combined with the launch of CME futures, driving its rapid integration into the traditional financial system. From a market performance perspective, XRP's trading volume has surpassed Ethereum during the halving cycle, institutional holdings have surged, and the settlement between the SEC and Ripple has eliminated regulatory uncertainty. However, challenges remain: short-term price volatility is severe (such as a single-day crash triggered by CME futures news), the local market size in Brazil is limited (only accounting for 0.9% of the global crypto ETF), and there is a need to continuously deal with the regulatory game with the US SEC. In the long term, if institutional funds continue to flow in and break geographical limitations, XRP may have the opportunity to challenge Ethereum's ecological status, but surpassing Bitcoin will still require broader market consensus and technological innovation.