- Canadian regulators approved three XRP ETFs, boosting institutional access on local exchanges and expanding broader North American exposure.
- Polymarket odds for U.S. spot XRP ETF jump to 90%, fueling medium-term speculators despite muted short-term price movements.
XRP (Ripple) is currently trading at $2.160, with a slight -0.23% loss on the day, continuing its recent consolidation phase after a strong rally earlier in the year.
Over the last week, XRP is down -0.88%, and it has shed -7.85% over the past month, showing clear signs of cooling off. However, it remains up +4.42% year-to-date, and a massive +340.11% in the last 12 months, underscoring how much it has recovered since 2023.
XRP’s market cap is $127.9 billion, with a circulating supply of 58.94 billion tokens, and its all-time high still stands at $3.40. The current price action shows XRP bouncing near $2.10, where it found technical support, with short-term traders watching closely whether it can push back toward the $2.30–$2.64 resistance band.
In terms of current news and developments:
- June 19 saw a major whale transfer: 26.67 million XRP (≈$58 million) was moved to Coinbase. This raised fears of a possible sell-off, particularly in the context of ongoing SEC-related legal uncertainty surrounding XRP.
- Canadian regulators approved three XRP ETFs, which began trading this week across local exchanges. This is a massive step for Ripple, as it signals growing North American regulatory tolerance and increases institutional exposure.
- Polymarket’s prediction market has increased the odds of a U.S. spot XRP ETF approval by late 2025 to 90%, up from 70% last month. This optimism is fueling medium-term speculative flows, even as short-term price action remains muted.
- Traders continue to reference the Adam and Eve bottom formation, with many believing XRP is still in the “coiling” phase before a potential breakout. A strong bull flag pattern is forming across daily and weekly timeframes, with key support at $2.00 and bullish targets between $5–$8 in the event of a breakout.
Sentiment remains bullish overall, although some analysts warn of a possible head-and-shoulders breakdown if XRP loses the $1.83–$2.00 level. Oscillators are mostly neutral, but longer-term MAs still trend positively.
Ripple’s continued legal progress with the SEC, growing international adoption (especially in Asia and Canada), and its pivot toward becoming a core infrastructure layer for cross-border CBDC and stablecoin settlement continue to underpin its fundamental case.
