XRP has captured attention recently, emerging as one of the top tokens on the major cryptocurrency exchange Kraken within a 24-hour period. The exchange highlighted this trend in a tweet, showcasing the most popular assets, with XRP prominently featured.
The surge in interest surrounding XRP can be attributed to the recent launch of multiple exchange-traded funds (ETFs) in the United States. Specifically, both Grayscale and Franklin Templeton have introduced their XRP spot ETFs this week. This development marks the fourth XRP spot ETF available in the U.S., following earlier launches by Canary and Bitwise. With additional products expected to roll out soon, institutional demand for XRP appears to be on the rise.
Notably, the introduction of Franklin Templeton”s XRPZ and Grayscale”s GXRP on NYSE Arca has already attracted significant capital, amounting to $164 million, underscoring a growing appetite among institutional investors for XRP.
Moreover, Ripple, the company behind XRP, achieved a significant milestone in the Middle East with its Ripple USD (RLUSD) stablecoin receiving a greenlight from Abu Dhabi”s Financial Services Regulatory Authority (FSRA). Recognized as an Accepted Fiat-Referenced Token, RLUSD can now be utilized as collateral for lending and trading on various platforms within the Abu Dhabi Global Market (ADGM).
Reece Merrick, Senior Executive Officer and Managing Director for the Middle East and Africa, shared his enthusiasm about Ripple”s progress in the region, indicating that 2025 has been a year of notable momentum for the company.
The overall cryptocurrency market experienced a rebound on Thursday, with major cryptocurrencies showing resilience. The altcoin sector, in particular, demonstrated robust performance, attributed to a broader recovery in equities the previous day. During this time, Bitcoin surpassed the $91,000 mark, reflecting a favorable sentiment for a potential year-end rally.
XRP experienced a notable price increase earlier in the week before stabilizing between $2.14 and $2.26. At the moment, XRP is trading at $2.18, reflecting a 2% gain over the last 24 hours and a nearly 4% increase on a weekly basis. The uptick in open interest for XRP correlates with this 24-hour price gain, suggesting that the recent rise has been driven primarily by spot buying rather than futures trading activities.
