Three XRP futures-based exchange-traded funds (ETFs) will be launched by ProShares Trust on April 30, as stated by this week’s SEC filing.
It comes as a follow-up on the original proposal made by ProShares on the day before President Trump’s inauguration on January 17.
The approval by the SEC caused XRP’s price to jump by 7.5% to $2.34 over 24 hours. Its market cap currently stands at over $136.97 billion.
The jump stands in sharp comparison to the modest losses experienced by the vast majority of the top cryptocurrencies. It reflects the substantial market impact of the ETF’s approval.
The approval also corroborates Ripple’s recent positive advancements in its legal struggle with the SEC, as Ripple made significant strides in the matter.
The war started back in 2020 when the SEC charged Ripple with selling the XRP as a security that had not been registered.
Ripple won a partial victory in 2023 when a judge determined that XRP was not a security on secondary exchanges. However, Ripple was still subjected to a substantial fine of $125 million for its institutional sales.
Ripple CEO Brad Garlinghouse revealed in March 2025 that the SEC agreed to drop its appeal, subject to its internal clearance. The two sides appear likely to settle after a joint motion was filed in April requesting a halt to proceedings.
XRP recovery signals investor optimism
The approval of XRP futures ETFs comes amid a trend involving other cryptos such as Bitcoin and Ethereum. Futures ETFs usually come before spot ETFs.
They allow institutional investors to gain exposure to XRP price movements without directly owning the asset. It provides institutions with legal and safe investment opportunities within the increasingly regulated world of crypto.
XRP’s price recently jumped but still remains below its 50-day Exponential Moving Average (EMA). This suggests the token is maintaining a short-term bearish trend.
It’s trading above its 200-day EMA, though, giving long-term support. If XRP breaks above the 50-day EMA, a retest of the March 19 high at $2.5925 may be coming.
Another rally could take the price to the January 16 level of $3.3999. Alternatively, a decline below the April 21 level of $2.0596 could take XRP towards the 200-day EMA.
However, the token is displaying signs of recovery as of April 23. XRP rebounded on April 28 to the level of $2.2727, a signal of renewed investor optimism.
