As the clock ticks ominously towards the SEC’s deadline, the fervor surrounding the XRP ETF reaches a fever pitch. Crypto enthusiasts, bless their hearts, are practically frothing at the mouth, convinced that this month might just be the month when the proverbial green light is flashed. ProShares and Franklin Templeton, those gallant knights of finance, have gallantly submitted their applications, hoping to usher in a new era of spot XRP exchange-traded funds. How quaint!
These two firms, in a display of remarkable tenacity, have updated their applications, all while dreaming of a day when XRP can join the elite club of cryptocurrencies that have been transformed into spot ETFs in the U.S., alongside the likes of Bitcoin (BTC) and Ethereum (ETH). One can only imagine the champagne corks popping in celebration!
ProShares has formally beseeched the SEC to deliver its final ruling on the XRP and Solana ETFs by June 25, 2025. Meanwhile, Franklin Templeton, in a rather cheeky move, has set its sights on a slightly earlier deadline of June 17. Who knew finance could be so competitive?
Should these ETFs receive the coveted approval, we would witness the birth of the first U.S. regulated spot XRP ETF, granting institutional players a regulated access to this asset. This, dear reader, is likely to increase the liquidity of the XRP token, its adoption, and, dare we say, long-term profitability. What a time to be alive!
XRP’s Latest Price Action Amid On-chain Movement
Now, let us turn our gaze to the on-chain data, where the average daily active addresses on the XRP ledger have surged to a staggering 295,000 over the past week. This is a remarkable leap from the 3-month average of a mere 35,000 to 40,000. It appears that the network is being used more frequently, likely due to the rampant anticipation and optimism swirling in the market. Who knew crypto could be so thrilling?
📊 The XRP ledger is showing serious signs of growth, from both a usage and key stakeholder perspective.
📈 The amount of interacting $XRP addresses has averaged over 295K per day over the past week. Its normal daily average over the past 3 months was approximately 35-40K.
🐳…
— Santiment (@santimentfeed) June 16, 2025
Moreover, the total wallets containing XRP of 1 million or more have exceeded 2,700 for the first time in over 12 years. These wallets, affectionately known as whales and sharks, are boosting the confidence of high-net-worth owners. It’s a veritable feeding frenzy!
Now, let us ponder how the rising possibilities of the XRP ETF could impact the price predictions this month. The XRP price has made a dramatic comeback, soaring by 7.35% within 24 hours. With a staggering 148.09% surge to $3.74 billion in daily trading volumes, the XRP token has reclaimed a market capitalization of $136.6 billion. Its dominance has risen to a respectable 3.9766%. Bravo!
The EMA 200-day acts as a sturdy support around the $2 mark, while the 50-day EMA has witnessed a bullish convergence just above the $2.25 mark. This suggests an increasing buying pressure for our dear altcoin. One can only hope this trend continues!
The Relative Strength Index (RSI) is showing a positive reversal above the oversold range, currently valued at 55.46. If this sentiment holds, we might just see it heading toward the overbought range in the near future. How delightful!
What’s Next for XRP Price?
The XRP coin price could very well breach its immediate resistance of $2.35 and retest its price targets of $2.57 or $3 in the not-so-distant future. However, should optimism reign supreme and the XRP ETF receive approval, we might see the price soar to the upper range of $3.50 or beyond this month. What a rollercoaster!
On the flip side, a bearish pullback may lead to a retest of its immediate support at $2.14. A delayed decision or a negative outcome could drag the price down to its lower support trend levels of $2 or even $1.94. Such is the capricious nature of the crypto market!
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2025-06-16 23:36