XRP Futures ETFs Launch Set to Impact Price Amid Market Dynamics

The article discusses the launch of XRP Futures ETFs by ProShares and its implications for XRP’s price amid ongoing SEC litigation. It highlights potential future XRP-spot ETFs and related market drivers while noting recent movements in XRP and Bitcoin prices influenced by broader economic factors, including US-China trade relations. Investors are advised to monitor key developments affecting these cryptocurrencies.

XRP news is currently focused on the upcoming launch of three XRP Futures ETFs by ProShares, which has amended its SEC filing to set an April 30 launch date. Unlike spot ETFs, these ETFs will invest in XRP futures contracts and related instruments, which could still influence XRP’s price positively despite not holding XRP directly.

The potential short-term effects on XRP’s price could stem from previous success of BTC and ETH futures ETFs in paving the way for spot ETFs. ProShares launched its Bitcoin Futures ETF in late 2021, which created momentum leading to a BTC-spot ETF anticipated later in 2024, raising optimism for XRP’s future.

Given the possibility of a more crypto-friendly SEC under President Trump’s leadership post-2024 election, the emergence of XRP-spot ETFs may be a reality in the coming years, with several companies having filed for their own ETFs. The review for Grayscale’s XRP-spot ETF is set for May, but a delay could occur as deadlines extend through October.

On April 17, XRP fell 0.86%, closing at $2.0652, in contrast to a general market rise of 0.95%. Despite this downturn, the potential for positive market developments hinges on the SEC’s decisions regarding its appeal on XRP Programmatic Sales and the impact of Paul Atkins’ expected chairmanship.

While XRP struggles, Bitcoin (BTC) saw an increase driven by optimism regarding US-China trade negotiations. The anticipation of a trade deal, alongside political criticisms of the Federal Reserve for interest rate policies, could provide a conducive environment for the crypto market to flourish.

Nonetheless, demand for US BTC-spot ETFs remains suppressed amid ongoing economic uncertainties and recent tariff threats from President Trump. A reported outflow of $171.1 million on April 16 reflects cautious investor sentiment regarding BITO and other ETFs.

Despite these headwinds, there are signs of recovery, with spot ETF issuers witnessing inflow days reflected in a total of $25.9 million in inflows excluding BlackRock’s iShares Bitcoin Trust. Market sentiment may shift positively as inflows increase, although Julio Moreno from CryptoQuant notes the significance of other ETFs participating in this growth.

On April 17, BTC gained 1.11% to close at $84,963, yet it has remained below $85,000 for the last five sessions. In the near term, investors should closely monitor Ripple’s legal developments, US-China trade criteria, macroeconomic indicators, and the overall legislative environment affecting crypto markets for strategic adjustments in their investments.