XRP soars as futures ETFs debut, crypto recovers


Monday, XRP rises as traders analyze the SEC's approval of ProShares XRP futures ETFs and their launch later this week.
Bitcoin is over $95,000 amid a crypto market comeback.

Ripple President Monica Long ended IPO rumors.
XRP rose over 3% on Monday, holding around $2.33. The SEC's clearance of XRP futures ETFs and technical indicators' bullish outlook amid a crypto market recovery may have sparked the rally.

XRP holders expected Ripple's 2025 IPO announcement. On Thursday, Ripple President Monica Long said that the payment remittance service had “billions of dollars in cash” and is financially stable.

SEC approves ProShares futures ETFs, traders anticipate spot approval
ProShares Trust's launch of numerous XRP futures ETFs was approved by the SEC for Wednesday. The US spot ETF approval process may take longer than expected. According to an official press release, the first XRP spot ETF debuted on Brazil's largest stock exchange B3 on Friday.

The SEC approved the ProShares UltraShort, Ultra, and Short XRP ETFs, which provide leveraged and inverse exposure to XRP futures prices.

Ripple has billions in cash, no IPO plans.
In an interview with CNBC, President Monica Long said Ripple is financially strong and has no intentions to go public in 2025.

Ripple can execute goals in 2025 without outside funding. CEO Brad Garlinghouse has suggested IPO plans will likely proceed when the SEC legal battle is resolved.

XRP Price Prediction: Technical indicators favor 8% rally
On Monday, XRP remains near $2.33 after recent advances.

The XRP/USDT daily price chart implies that the price might climb 8% and test $2.51, the 50% Fibonacci retracement of the drop from $3.40 peak to $1.62 low. If a daily candlestick closes above $2.51, XRP might test resistance at $2.72 and $2.72, the 61.8% Fibonacci retracement and the daily chart's lower Fair Value Gap (FVG) limit.

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