XRP News Today: XRP Breaks Higher as ETF Optimism and Legal Hopes Align; BTC at $95k

XRP Hits an April High on ETF Optimism

On Monday, April 28, Bloomberg Intelligence ETF analyst James Seyffart addressed reports suggesting that ProShares would launch three XRP Futures ETFs on April 30. Seyffart clarified:

“UPDATE: a lot of people posting/reporting that ProShares will be launching XRP ETFs on April 30th. We’ve confirmed that’s not the case. We don’t have a confirmed launch date yet but we believe they will launch – and likely launch in the short or possibly medium term.”

Despite the clarification, XRP rallied to an April intraday high of $2.3620, fueled by optimism over Futures ETFs and anticipation of an eventual XRP-spot ETF launch.

Currently, 21Shares, Bitwise, Canary Funds, Franklin Templeton, Grayscale, and WisdomTree have filed XRP-spot ETF applications pending SEC review. However, investors may have to wait until Q4 2025 for any XRP approvals. Bloomberg Intelligence’s James Seyffart maintained confidence, noting:

“This doesn’t change our (relatively high) odds of approval. Also note that the final deadlines aren’t until October for these.”

SEC vs. Ripple Appeal Withdrawal Crucial for XRP-Spot ETF Prospects

According to crypto-betting platform Polymarket, the odds for a US XRP-spot ETF approval by December 2025 stand at 78%, down from a March 23 peak of 87% but up from 68% on April 22. The dip reflects continued SEC silence regarding its appeal strategy and settlement plans in the Ripple case.

On April 10, Ripple and the SEC filed a joint motion to pause the appeal, citing their agreement to settle rulings from Judge Torres’ Final Judgment.

Ripple Chief Legal Officer Stuart Alderoty recently outlined potential settlement terms, including a reduced penalty and vacating the injunction prohibiting XRP sales to institutional investors. Lifting the injunction could accelerate Ripple’s US expansion. However, the SEC’s decision to withdraw its appeal against the Programmatic Sales of XRP ruling remains pivotal for XRP-spot ETF approvals.

XRP Market Outlook: Legal and ETF Factors in Focus

XRP advanced 1.88% on Monday, April 28, building on Sunday’s 2.79% rally, closing at $2.2950. The token outperformed the broader crypto market, which rose 1.16%, taking the total crypto market cap to $2.93 trillion.

Over the near term, several factors will influence XRP price trends:

• Progress in Ripple-SEC settlement talks.
• Developments surrounding XRP-spot ETF applications.
• Broader market forces such as Federal Reserve policy and US-China trade developments.

XRP finds immediate support near $2.10, while a breakout above $2.50 could pave the way for a return to $3 and potentially the all-time high of $3.5505.

See our full XRP forecast here.

MicroStrategy’s Bitcoin Acquisition Reinforces BTC Sentiment

XRP’s gains coincided with bitcoin’s (BTC) return to $95,000, driven by news of MicroStrategy (MSTR) increasing its BTC holdings.

MicroStrategy Chairman Michael Saylor announced on X (formerly Twitter):

”MSTR has acquired 15,355 BTC for ~$1.42 billion at ~$92,737 per bitcoin and has achieved BTC Yield of 13.7% YTD 2025. As of 4/27/2025, we hodl 553,555 BTC acquired for ~$37.90 billion at ~$68,459 per bitcoin.”

MSTR’s share price rose 0.15% to $369.25 on April 28, while Coinbase (COIN) and the Nasdaq Composite Index dropped 2.08% and 0.10%, respectively.

Market intelligence platform Santiment highlighted that retail traders remain optimistic, stating:

“As Bitcoin has risen as high as $95.5k on Monday, retail traders continue to show confidence in crypto markets. Across social media, mentions of higher BTC predictions are greatly exceeding mentions of lower BTC predictions.”

Santiment added:

“Historically, bullish traders want to see most of the crypto community betting against crypto. After the major rally last week, this has shifted retail toward greed once again, with meme coins and other speculative assets being prioritized.”

US BTC-Spot ETF Market Faces Outflows

Significantly, MicroStrategy’s sizeable purchase offset US BTC-spot ETF outflows. According to Farside Investors, key flows for April 28 included:

• ARK 21Shares Bitcoin ETF (ARKB) saw net outflows of $226.3 million.
• Fidelity Wise Origin Bitcoin Fund (FBTC) had net outflows of $86.9 million.
• Grayscale Bitcoin Trust (GBTC) and Bitwise Bitcoin ETF (BITB) reported net outflows of $42.7 million and $21.1 million, respectively.

Excluding pending data for BlackRock’s (BLK) iShares Bitcoin Trust (IBIT), US BTC-spot ETF issuers reported $379.7 million in net outflows. Without a significant inflow from IBIT, the spot ETF market risks snapping its six-day inflow streak.

BTC Price Outlook: Key Catalysts Ahead

Despite ETF outflows, BTC rose 1.29% on April 28, reversing Sunday’s 0.99% loss, closing at $95,011. BTC held onto the $95k handle for the first time since February 23.

BTC’s near-term price trajectory will likely hinge on several catalysts.

• Bearish Scenario: An escalation in the US-China war, a hawkish Fed stance, weak US economic indicators, legislative resistance, and ETF outflows.
• Bullish Scenario: A de-escalation in trade tensions, a dovish Fed stance, positive US data, pro-crypto legislation, and ETF inflows.

One major legislative development to watch is the progress of the Bitcoin Act, reintroduced by Senator Cynthia Lummis. The bill proposes that the US government acquire one million BTC over five years, with a 20-year lock-up period. If passed, this bill could trigger a significant rally in BTC.

On April 28, CryptoAmerica host and journalist Eleanor Terrett reported on BTC’s status as a reserve asset, stating:

“Arizona becomes the first US state to pass a BTC reserve bill that allows for up to 10% of public funds to be invested in virtual currencies like Bitcoin. The bill will still need to pass Democratic Governor Katie Hobbs’ desk in order to be signed into law.”

If Governor Hobbs signs the bill, it could raise hopes of Congress passing the Bitcoin Act.

What to Watch

Investors should closely monitor developments in the Ripple case, US-China trade negotiations, and central bank policy signals. Macro trends and ETF market flows will remain crucial in influencing sentiment. A favorable Ripple settlement could ignite a fresh XRP rally, but sustained momentum in the broader crypto market will depend on global policy shifts and overall risk appetite.

Read analysts’ insights on what could drive cryptocurrencies to new highs.