XRP News Today: XRP Gains as Brazil Approves First XRP-Spot ETF; BTC at $93k

XRP Rallies on Pro-Shares Futures ETF Approvals

Reports of the SEC greenlighting the launch of three XRP Futures ETFs drove XRP demand on Sunday, April 27. ProShares will launch the ProShares UltraShort XRP ETF, ProShares Ultra XRP ETF, and ProShares Short XRP ETF on Wednesday, April 30.

Notably, these are futures ETFs, not spot ETFs, meaning the ETFs will give investors exposure to XRP without directly holding the token. The ETFs will invest in XRP futures contracts, swaps, and cash balances in money market instruments, including US Treasuries.

Nevertheless, the crypto community responded positively to the news. Amicus Curiae lawyer John E. Deaton remarked:

“What a difference a couple of years and one election can have.”

The launch of XRP Futures ETFs can pave the way for an XRP-spot ETF market. ProShares launched its Bitcoin Futures ETF (BITO) in October 2021, well before the first US BTC-spot ETFs launched in January 2024.

Investors are hoping for SEC approval of the pending US XRP-spot ETFs by October 2025. Bloomberg Intelligence ETF Analyst James Seyffart recently commented:

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

First XRP-Spot ETF Launches in Brazil: Will the US Follow?

The XRP Futures ETF developments coincided with news of Hashdex launching an XRP-spot ETF in Brazil. Crypto enthusiast Stellar Expert commented:

“Hashdex’s Spot XRP ETF launch in Brazil is historic. Not a futures product. Not a synthetic basket. A real, physically-backed XRP ETF open for institutional investors and the public. The floodgates are open.”

Stellar Expert also remarked on Brazil’s crypto market and Bitcoin’s (BTC) spot-ETF history, stating:

“Brazil may seem ‘small’ to some. But it’s one of the largest and fastest-growing crypto markets globally. And history shows: Once one country opens the gates… Others follow fast. Spot Bitcoin ETFs started abroad first too. Now look.”

According to Polymarket, a crypto-betting platform, the chances of a US XRP-spot ETF approval by December 2025 have risen to 78%, up from 68% on April 22. However, the odds for approval have fallen from a peak of 87% in May.

The SEC’s silence on its plans to withdraw the appeal challenging the Programmatic Sales of XRP ruling has tempered bets on a 2025 XRP-spot ETF approval. However, a withdrawal could be imminent, potentially fueling speculation about an SEC approval and XRP demand. The SEC and Ripple jointly filed a motion on April 10, requesting the courts to hold the appeal in abeyance based on the parties’ agreement to settle.

The settlement relates to Judge Analisa Torres’ Final Judgment in the Ripple case, which included an injunction prohibiting XRP sales to institutional investors and a $125 million penalty.

XRP Market Outlook: Legal and ETF Factors in Focus

XRP rallied 2.79% on Sunday, April 27, building on Saturday’s 0.42% gain, closing at $2.2527. The token outperformed the broader crypto market, which dropped 0.91% to a total crypto market cap of $2.9 trillion.

Looking ahead, XRP’s key price drivers include a potential Ripple-SEC settlement, optimism over an XRP-spot ETF, and broader macroeconomic forces such as Federal Reserve policy and US-China trade developments. Near-term support lies around $2.10, with a breakout above $2.50 potentially opening the path toward $3 and the all-time high of $3.5505.

See our full XRP forecast here.

Bitcoin Retreats Ahead of Crucial US Data and Trade Developments

While XRP advanced, bitcoin (BTC) succumbed to profit-taking after briefly reclaiming $95,000. A crucial week ahead exposes BTC to US economic data, trade developments, and speculation over the Fed’s rate path, encouraging caution among investors.

Last week, the US BTC-spot ETF market recorded total net inflows of $3,033 million, its largest since launching in January 2024. Easing US-China trade tensions and hopes for trade deals between the US and major economies boosted risk appetite. The Nasdaq Composite Index rallied 6.73% in the week ending April 25, while gold dropped by 0.25% to $3,319. Despite Sunday’s pullback, BTC gained 10.07% in the week.

The Kobeissi Letter remarked on BTC-spot ETF flows and BTC price trends, stating:

“Investors are rushing into Bitcoin: US-listed Bitcoin ETFs recorded $936 million in net inflows on Tuesday, the third-highest this year. Since the April 7 low, Bitcoin prices have surged over 25% and are trading above $94,000. For the first time all year, it appears that Bitcoin has decoupled from risky assets and is now seeing large safe haven-driven demand. Is Bitcoin heading to $100,000+?”

BTC Price Outlook: Key Catalysts Ahead

On April 27, BTC fell 0.99%, adding to Saturday’s 0.04% dip, closing at $93,802.

BTC’s near-term path will likely hinge on trade negotiations, US economic data, and legislative developments.

• Bearish Scenario: Intensifying US-China tensions, a hawkish Fed stance, weak US data, legislative resistance, and ETF outflows.
• Bullish Scenario: Easing trade tensions, a dovish Fed rate path, upbeat US data, pro-crypto legislation, and rising ETF inflows.

One 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. Passage of the bill could drive BTC to fresh record highs.

What to Watch

Investors should monitor Ripple court filings, US-China trade headlines, and central bank policy signals. Macro trends and ETF flows will remain crucial in influencing sentiment. A favorable XRP settlement could spark a fresh rally, but broader crypto momentum will ultimately hinge on global policy news and risk appetite.

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