Ripple’s XRP just staged a stunning comeback, jumping nearly 80 percent from April lows to reach its highest price since March.
Key Takeaways
- 1XRP surged to $2.9695, its highest since March 2, with an 80 percent gain from April lows
- 2Inflows into the leveraged XXRP ETF neared $250 million, despite a high 1.89 percent expense ratio
- 3Bitcoin’s record high of $118,300 added bullish momentum across crypto markets
- 4Ripple CEO’s Washington visit and CLARITY Act buzz reignited investor interest
Crypto traders were all smiles this week as XRP shot up like a rocket, driven by a cocktail of positive news. Between a red-hot ETF, Ripple’s CEO in D.C., and Bitcoin smashing records, the stars seem to be aligning for Ripple fans.
Let’s break it down.
XRP Soars to Five-Month High
XRP skyrocketed to $2.9695 on July 11, climbing nearly 80 percent from its April lows. That makes this Ripple’s biggest weekly rally in months, powered by a trifecta of catalysts:
- Bitcoin’s new all-time high of $118,300
- Strong investor demand for a new leveraged XRP ETF
- A bullish appearance by Ripple’s CEO in Washington, D.C.
XRP’s price rally also coincided with a breakout from a long-term triangle pattern. Technical indicators like the 50-day and 100-day Exponential Moving Averages flashed a bullish crossover, while the Average Directional Index (ADX) rose to 25, suggesting a strong trend is in motion.
XXRP ETF Gains Momentum
The Teucrium 2X Long Daily XRP ETF (XXRP) is making waves in the crypto ETF world. Launched in April, the fund has now drawn in $248 million in assets and seen weekly inflows without a pause.
What’s impressive? It’s doing all this with a hefty 1.89 percent expense ratio, far higher than the industry norm of 0.50 percent or less. Despite that, traders are still pouring in, likely enticed by its double-leverage structure.
For example:
- In just five days, XRP jumped 24 percent
- Meanwhile, XXRP surged 51 percent
That kind of performance, even with high fees, is catching investor attention in a big way.
CLARITY Act and D.C. Buzz Lift Sentiment
Ripple CEO Brad Garlinghouse’s recent trip to Washington couldn’t have come at a better time. He spoke ahead of the anticipated CLARITY Act, a bill that aims to clarify which U.S. agency should regulate crypto assets: the SEC or the CFTC.
This pending legislation has sparked interest across the crypto sector, as it promises to settle jurisdictional confusion that has long plagued the industry.
Investors interpreted Garlinghouse’s visit as a bullish sign that Ripple might finally get regulatory breathing room, pushing confidence and prices even higher.
What Comes Next?
With XRP now breaking above a critical technical level, traders are watching the year-to-date high of $3.3930 as the next big test. Continued inflows into XXRP and favorable political developments could fuel that move.
Here are the key numbers:
- Current XRP price: $2.9695
- Year-to-date high: $3.3930
- XXRP assets: $248 million
- ETF fee: 1.89 percent
CoinLaw’s Takeaway
I’m honestly impressed. This XRP rally isn’t just hype it’s backed by hard numbers and real momentum. A nearly 80 percent price surge, a brand-new ETF raking in a quarter-billion dollars, and a pro-crypto push in D.C.? That’s a powerful combo. The ETF’s high fee didn’t even scare off investors, which tells me confidence is running high. If the CLARITY Act brings actual regulatory direction, this might just be the beginning of a much bigger XRP breakout. I’m keeping a close eye on that $3.3930 resistance.
