XRP News Today: XRP Slips as ETF Launch Nears; BTC Hovers at $84k

XRP ETF Launch Date Nears as Legal Battles Continue

XRP-related ETF headlines continue to make waves as the SEC vs. Ripple case unfolds. In a recent update, ProShares filed an amendment on April 15 to its January 17 registration with the SEC, setting April 30 as the new effective launch date for three XRP Futures ETFs: ProShares UltraShort XRP ETF, ProShares Ultra XRP ETF, and ProShares Short XRP ETF.

Unlike spot ETFs, the ProShares ETFs will not hold XRP directly. Instead, they will achieve their investment objectives by investing in XRP futures contracts, swap instruments, and money market instruments (cash balances) such as US Treasuries.

Nevertheless, XRP Futures ETFs could still influence XRP’s price trajectory. Potential short-term positive price effects include:

• Giving financial institutions exposure to XRP without custody concerns.
• Expanding participation to retail investors.
• Signaling greater regulatory acceptance of XRP as an asset class.

ETF issuers previously launched bitcoin (BTC) and ethereum (ETH) futures ETFs, a crucial step toward spot ETFs. ProShares launched its Bitcoin Futures ETF (BITO) on October 19, 2021, well ahead of the US BTC-spot ETF debut on January 11, 2024.

President Trump’s 2024 presidential election victory and a more crypto-friendly SEC leadership raise the likelihood that XRP-spot ETFs could follow in 2025. Several issuers, including Bitwise, Canary Funds, 21Shares, Grayscale, Coinshares, WisdomTree, and Franklin Templeton, have already submitted applications for XRP-spot ETFs.

Grayscale’s XRP-spot ETF has a May review date, but Bloomberg Intelligence ETF Analyst James Seyffart noted final deadlines extend to October, making a delay likely.

XRP Outlook: Legal Developments and ETF Hopes

XRP dropped 0.86% on Thursday, April 17, following Wednesday’s 0.03% loss, closing at $2.0652. It underperformed the broader crypto market, which rose 0.95%, bringing the total crypto market cap to $2.63 trillion.

Progress toward an XRP-spot ETF market could be bullish for XRP. However, progress will likely hinge on the SEC withdrawing its appeal over the Programmatic Sales of XRP ruling. Paul Atkins’ imminent arrival as SEC Chair might accelerate the process.

In the near term, investors should track several key XRP price drivers:

• Legal developments in the SEC vs. Ripple case—a settlement could push XRP toward its all-time high of $3.5505.
• Spot ETF progress—approval may spur institutional demand, while delays could weigh on sentiment.
• Macroeconomic risks—Fed policy and U.S.-China tensions could drag XRP toward $1.70; easing conditions may support a rally to $3.00.

See our full XRP forecast here.

Bitcoin Gains on US-China Tariff Developments

While XRP struggled, bitcoin (BTC) advanced over hopes of a de-escalation in the US-China trade war. Market intelligence platform Santiment commented on trade developments and Trump’s attack on the Fed for not cutting interest rates:

“As crypto traders wait for a reason to confidently FOMO in on prices, Trump has taken aim at Jerome Powell for not cutting rates. In the meantime, he has signalled that a ‘Very Good Deal’ with China may be around the corner.”

A US-China trade deal would likely boost crypto markets. Since Trump’s tariff threat on January 31, BTC has fallen 19%, while gold has climbed 19%, underscoring investor concerns about global economic fallout.

Muted BTC ETF Demand Amid Economic Uncertainty

The uncertainty surrounding the global economic outlook and the threat of a higher for longer Fed rate path continue to dampen demand for US BTC-spot ETFs. According to Farside Investors, the US BTC-spot ETF market reported net outflows of $171.1 million on April 16. Markets reacted to President Trump raising tariffs on China.

However, there are signs of market stabilization. On April 17, spot ETF issuers could mark three inflow days from four. Excluding data from BlackRock’s (BLK) iShares Bitcoin Trust (IBIT), total US BTC-spot ETF inflows reached $25.9 million. IBIT may extend its inflow streak to four days, suggesting a shift in sentiment.

Julio Moreno, Head of Research at CryptoQuant, commented:

“BlackRock is buying Bitcoin… but basically every other ETF is selling. Other ETFs need to join the party to generate Bitcoin demand growth.”

BTC Price Outlook: Key Drivers

On April 17, BTC rose 1.11%, building on Wednesday’s 0.39% gain to close at $84,963. Despite the upswing, BTC closed below $85,000 for the fifth consecutive session.

Near-term price trends will likely hinge on:

• Bearish Scenario: tariff escalation, Fed hawkishness, ETF outflows, and stalled legislation could push BTC toward $75,000.
• Bullish Scenario: easing trade tensions, Fed dovishness, bipartisan backing for the Bitcoin Act, and inflows may lift BTC toward $90,000.

What’s Ahead: Watch These Themes

Keep a close eye on Ripple legal updates, U.S.-China trade developments, macroeconomic data, Fed policy signals, ETF flows, and crypto-related legislation. While Ripple’s legal trajectory may provide near-term clarity for XRP, the broader market direction still depends on regulatory and economic stability.

Explore what analysts believe is needed for cryptos to reach new highs.