Ripple’s XRP surges 7% overnight – XRP ETF filings sentiments take effect

XRP was among the top performers in the top ten market cap rankings of cryptocurrencies on Wednesday, surging by more than 7% before Wednesday’s close. The price uptick follows growing optimism over multiple XRP exchange-traded fund (ETF) filings in the United States and Brazil’s regulatory approval of what could become the world’s first spot XRP ETF.

According to CoinGecko data, XRP is trading at $2.69 after gaining 10.3% over the past week. In South Korean markets, the token has been up 2.5% against the won in the last 24 hours, as seen in the country’s largest exchange by volume, Upbit. 

The positive price movement comes on the backdrop of the US Securities and Exchange Commission’s (SEC) formal acknowledgment of several XRP ETF applications, with the latest coming from asset managers WisdomTree and Canary Capital. 

If approved, these ETFs would provide institutional investors in the US with a regulated avenue to gain exposure to XRP as parent company Ripple continues forming partnerships worldwide.

SEC reviewing ETF filings, a 2025 approval looks imminent

According to the SEC’s records, WisdomTree and Canary Capital’s ETF filings via Nasdaq and the Cboe BZX exchange were acknowledged on February 19, triggering a mandatory 21-day public comment period upon publication in the Federal Register. The financial regulator will then have up to 240 days to review and issue a final decision. 

Under acting SEC Chair Mark Uyeda, the commission has already acknowledged XRP ETF filings from several other financial firms, including Grayscale, Bitwise, CoinShares, and 21Shares. 

As of Thursday, Polymarket predicts an 80% chance of an XRP ETF approval coming before December 31, 2025, a 2% uptick in the last 24 hours. However, the decentralized platform does not quite see a greenlight being issued before July 31, as more than 55% forecast it will not happen by the end of Q2 2025.

Brazil approves first spot XRP ETF

In other news, Brazil’s Securities and Exchange Commission (CVM) granted approval for Hashdex’s Nasdaq XRP Index Fund. As reported by Cryptopolitan, the ETF is set to be listed on Brazil’s B3 exchange. If it launches before any potential US counterpart, it will become the world’s first spot XRP ETF.

Local news outlet Portal do Bitcoin, citing CVM’s official website, said the regulator has listed the fund in its pre-operational phase, but Hashdex has yet to announce an exact launch date, 

The approval could establish Brazil as a leading jurisdiction for Ripple’s cryptocurrency-based financial products. The company is still in a legal scuffle with the US SEC, which is clouding the prospects of such funds in America.

Yesterday, Brazilian financial services provider Braza Group announced plans to launch a stablecoin pegged to the Brazilian Real (BRL) on the XRP Ledger (XRPL). The digital asset is expected to debut within the first quarter of this year through the Braza On app and will be available exclusively for institutional clients.

Braza Group CEO Marcelo Sacomori described the stablecoin as a transformative product for cross-border payments, predicting it could capture as much as 30% of Brazil’s market by the end of 2026. 

“With BBRL, Brazilians and national companies gain new alternatives to protect against volatility and streamline their operations, contributing to a more inclusive and efficient financial ecosystem,” reckoned Sacomori.

XRP experiences a brief surge but faces resistance at $3

XRP’s recently renewed bullish outlook has yet to push the coin past critical resistance zones, specifically the $3 mark, and it is showing signs of slowing momentum. The cryptocurrency’s 5.10% gain in the last day positioned it just above the $2.65 pivot point, with immediate resistance at $2.71.

According to technical analysis from TradingView, market indicators signal a short-term strong buy signal. The Average Directional Index (ADX) at 50.0 confirms a strong trend, but a negative Moving Average Convergence Divergence (MACD), which stands at −0.01648, suggests the upward momentum is at a potential exhaustion. 

XRP’s Relative Strength Index (RSI) at 67.42 is approaching overbought conditions, which could lead to a temporary pullback. Traders are closely watching whether XRP can consolidate above $2.69, which could pave the way for further gains toward $2.75 and $2.9. 

Conversely, a break below $2.56 could trigger a short-term correction, while a loss of $2.43 support may signal a broader trend reversal to a bear market period