recently broke higher, reaching an April high of $2.3620. This rally has been driven by growing investor optimism over potential XRP Futures and spot ETF launches, as well as positive developments in the Ripple vs. SEC legal battle.
While ProShares clarified that it will not be launching XRP ETFs on April 30, sentiment in the market remains bullish. Several firms—21Shares, Bitwise, and Grayscale—have already filed applications for XRP-spot ETFs, which are now under review by the U.S. Securities and Exchange Commission (SEC). Decisions on these applications are expected by the fourth quarter of 2025.
In parallel, the legal front has seen a noteworthy shift. Ripple and the SEC jointly filed a motion to pause the ongoing appeal process, fueling speculation about a possible settlement. If a resolution is reached, it could result in the removal of current restrictions on XRP sales to institutional investors. This development would not only support Ripple's growth in the U.S. but also increase the likelihood of ETF approvals.
At the same time, Bitcoin has reclaimed the $95,000 level. This comes after MicroStrategy announced the acquisition of 15,355 BTC, worth approximately $1.42 billion. The purchase helped offset recent net outflows from U.S. BTC-spot ETFs, which totaled $379.7 million on April 28. Despite these outflows, Bitcoin's ability to hold its price suggests continued investor confidence.
Looking ahead, if XRP manages to break past the $2.50 resistance level, it could set the stage for a retest of its all-time high of $3.5505. However, much of this will depend on how the SEC proceeds with its decisions on ETF applications and the final outcome of the Ripple-SEC case. Investors are watching these developments closely, as they are expected to play a significant role in shaping the market trajectory for XRP.