XRP is ripping.
The price of the fourth biggest cryptocurrency in the world price has jumped over 11% over the past 24 hours to trade at over $2.54.
The jump comes after investors noted that the Depository Trust & Clearing Corporation listed several spot XRP exchange-traded in an update.
And the optimism doesn’t stop there. The new listings come as an end to the record-long US federal government shutdown is seemingly within reach.
Nate Geraci, co-founder of the ETF Institute and President of the ETF Store, said on X that “government shutdown ending [equals] spot crypto ETF floodgates opening. In meantime, could see first [Securities Act of 1933] spot XRP ETF launch this week.”
What DTCC filling?
The seeds to the new wave of bullishness came on November 7.
That’s when the DTCC, an American infrastructure company considered to be the backbone of financial markets, made an update on its website.
This new update showed new XRP spot ETF products filed by investment firms Canary Capital, Bitwise, Franklin Templeton, and 21Shares.
The DTCC describes the products as in the “pre-launch” stage and “not yet” active.
To be sure, ETFs backed by the $150 billion cryptocurrency still need regulatory approval from the Securities and Exchange Commission.
That’s why reopening of the US federal government is so critical. Yet, after 40 days of government shutdown, the gridlock on Capitol Hill seems to be coming to an end.
On Sunday, a bipartisan group of senators moved to end the government shutdown. In a 60–40 vote, several Democrats joined Republicans to advance a House bill to reopen federal agencies.
XRP still trades 31% below its $3.65 all-time high from July.
Even so, spot XRP ETF issuers are bullish that these new funds will pull in billions in sales.
Steven McClurg, CEO of Canary Capital, which is expected to launch its XRP ETF in mid-November, predicted in August that investors will pour up to $5 billion into XRP ETFs within their first month of trading.
Ripple triples
The news comes on the back of several bullish news for Ripple, the company that developed XRP to facilitate cross-border payments.
On November 5,, Ripple tripled its valuation to $40 billion following a $500 million strategic funding round, its largest capital raise since 2019.
Backers included Wall Street titans Citadel Securities, Fortress Investment Group, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.
The blockbuster raise underscores financial institutions’ broader rush into crypto, spurred by new stablecoin regulations.
That same day, Ripple announced a partnership with payments giant Mastercard and crypto exchange Gemini to bring stablecoin payments to credit card transactions.
“Mastercard is integrating regulated, open-loop stablecoins into our global payments network to support consumer choice and safety,” Sherri Haymond, Mastercard’s head of digital commercialisation, said in a statement shared with DL News.
“Ripple knows something the market doesn’t,” Eva Oberholzer, chief investment officer at Ajna Capital, told DL News.
“They’re sitting in rooms with Fortune 500 CFOs discussing stablecoin strategies for 2026. Public investors are reading last quarter’s earnings reports. That’s a massive information gap.”
Lance Datskoluo is DL News’ Europe-based markets correspondent. Got a tip? Email at lance@dlnews.com.
