Canada’s Approval of First Spot XRP ETF Sparks Bullish Momentum for XRP

In a groundbreaking move, Canada has approved the first spot XRP ETF in North America, fueling bullish sentiment for Xipple's native token. The Purpose XRP ETF (XRPP) and Evolve XRP ETF (XRP) are set to begin trading on June 18, offering investors direct exposure to XRP in both CAD and USD. This regulatory milestone underscores the growing institutional acceptance of cryptocurrency assets, with market observers noting a significant surge in trading volumes. XRP's price saw a modest 0.2% increase following the announcement, signaling potential for further growth as institutional interest continues to rise. The approval marks a pivotal moment for XRP, positioning it as a leading digital asset in the evolving financial landscape.

Canada Approves First Spot XRP ETF, Fueling Bullish Sentiment for XRP

XRP's price edged up 0.2% amid a near-tripling of trading volumes following Canada's landmark approval of the first spot XRP ETF in North America. The Purpose XRP ETF (XRPP) and Evolve XRP ETF (XRP) will begin trading on June 18, offering direct exposure to Ripple's native token in CAD and USD.

This regulatory milestone signals growing institutional acceptance of crypto assets, with market observers noting increased likelihood of similar SEC approvals in the U.S. The ETF launches coincide with heightened speculation about XRP's price potential, though the $1,000 price target remains controversial among analysts.

XRP Poised for Breakout After Prolonged Consolidation

XRP appears ready to exit a seven-month consolidation phase following last year's 700% surge. The cryptocurrency, which broke out from a multi-year Symmetrical Triangle pattern in late 2024, has maintained stability above key resistance levels at $2.15.

Technical analysis by market expert 'Crypto Michael' reveals XRP's prolonged compression within the triangle pattern before its dramatic breakout. The subsequent rally propelled prices from $0.6 to over $2, marking one of XRP's strongest quarterly performances.

The current consolidation, marked by a well-defined trading range, suggests the market is building strength for its next major move. With price action holding above previous resistance, traders anticipate potential upside continuation.

XRP Faces Bearish Reversal Risk After Failed Breakout

XRP's recent price action has turned cautionary after a failed bullish breakout. The token briefly surged above key moving averages, testing the $2.27 resistance before sharply reversing below the 50 and 100 EMA lines. This rejection, marked by a pronounced wick and elevated volume, paints a classic bull trap scenario.

Market dynamics suggest weakening buyer conviction. The rapid retreat from resistance indicates bears have regained control, with the RSI dipping below 50 to confirm fading momentum. Volume patterns tell the same story—initial breakout enthusiasm has dwindled, leaving the $2.09 support and 200 EMA as critical battlegrounds.

Without a swift resurgence of buying pressure, XRP risks a deeper correction. This price behavior underscores the market's current fragility, where failed breakouts can quickly morph into significant reversals.

XRP Price Drops 7% as Ripple-SEC Legal Pause Sparks Investor Uncertainty

XRP has plunged 7.29% in the past 24 hours, marking the steepest decline among the top 10 cryptocurrencies. The sharp drop coincides with broader market volatility but stands out due to mounting fears around Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission.

Former federal prosecutor James Filan revealed that Ripple and the SEC have jointly agreed to pause their court appeal. While this could hint at behind-the-scenes settlement talks, the market reaction has been one of panic rather than confidence.

Trading volume for XRP surged 33.96% to $4.74 billion, yet the price decline suggests intensified sell-offs. A $438 million XRP transfer by Ripple has further fueled speculation about insider activity and market manipulation.

Investors are concerned the legal pause may delay regulatory clarity for XRP. The lawsuit, launched in late 2020, has significantly impacted XRP’s market position and is viewed as a landmark case for U.S. crypto regulation.

Analysts remain divided—some optimistic about a potential settlement, others wary of the lack of transparency. Retail investors are reacting cautiously, contributing to heightened volatility in XRP markets.

XRP Bullish Signal: Shark & Whale Wallets Hit Record High Amid Blockchain Activity Surge

XRP's shark and whale wallets holding at least 1 million tokens have reached an all-time high, signaling strong accumulation by large investors. Santiment's on-chain data reveals this cohort now controls a record share of the supply, coinciding with heightened network activity.

The 1 million+ XRP threshold—equivalent to roughly $2.2 million—identifies influential market participants whose movements often precede price trends. Their growing presence suggests mounting institutional confidence despite recent regulatory headwinds.

Supply distribution metrics show sustained accumulation since Q1 2024, with notable spikes during price consolidations. This divergence between holder growth and price action historically precedes breakout periods, mirroring patterns seen before XRP's 2017 and 2021 rallies.

Flare Network Enhances XRP's DeFi Capabilities with FXRP Launch

Flare Network is positioning itself as critical infrastructure for the XRP ecosystem, bridging the gap between XRP and decentralized finance. The platform's innovative FAssets protocol allows XRP to be wrapped into FXRP, a 1:1 pegged asset now usable for lending, liquidity farming, and yield generation. A triple-collateral system—backed by XRP, FLR tokens, and stablecoins—ensures stability against market volatility.

Initial testing on Flare's Songbird testnet demonstrated strong demand, with the $2 million FXRP issuance cap reached within four days. Mainnet deployment is now underway, with heightened focus on security protocols. The network's Total Value Locked surged from $37.1 million to $148.8 million in under two weeks, driven largely by the introduction of stablecoin USD₮0.