Proshares XRP-ETF is obviously faced with approval-the market is already starting
- The Open Interest of the XRP Futures increases by 33 % and signals a new thrust at the dealers.
- Ripple’s CEO urges crypto legislation during a hearing in the US Senate.
XRP experienced a strong increase in market activity, and there are other optimistic moods about what lies ahead of us. The compiled by Coinglass Data show that the open interest on XRP futures increase exponentially and briefly reached 800 million XRP before setting up at 743 million.
This corresponds to an increase of 33% compared to the levels registered on June 22, which brings the XRP futures back to the levels recorded in January.
This growing open interest reflects the increased interest from derivative investors who are now waiting for a big spark, which is rumored to be the upcoming Proshares XRP ETF.
If it is approved, this will be the first time that the token appears in this type of regulated product structure and welcomes a wider institutional participation. Since the open interest on scheduling transactions approaches the value of $ 5 billion, market participants are visibly preparing for a significant leap.
Interestingly, the XRP cassacap has not changed, even if the futures activity increases. The XRP course is stable and is currently $ 2.34 after it is 4 % during the day and has increased by 7 % during the week.
This indicates that, although speculation by derivatives among the dealers is widespread, the ETFs are still being confirmed on the wider market.
South Korean dealers hold XRP price line
Another factor that contributes to the stability of XRP is the presence of regional trade flows. South Korea’s largest stock exchange, upbit, recorded larger token inflows compared to drains of around $ 8.82 million on other large stock exchanges worldwide.
This shows that Korean investors firmly support the XRP treasury in a time of global uncertainty.
Such imbalances usually lead to temporary price faults in regional and international markets. In this case, the Korean investors prevent greater correction.
This regional leadership role could continue to determine the short -term market events until elsewhere there is a broader purchase interest.
Ripple boss demands clear crypto laws
An important event that strengthens the trust of investors is the hearing of the US Senate Banking Committee. The CEO of Ripple, Brad Garlinghouse, appeared recently before the US Senate banking committee for a personal hearing.
He asked the senators to quickly take measures to take regulatory reform, otherwise the industry would be lost abroad. Garlinghouse explained that over 55 million Americans are already working in the crypto sector, but led a lack of organizational regulations to migrate to top talents and innovations abroad.
My full testimony for the hearing is available here: https://t.co/NHTh8wKQMc
— Brad Garlinghouse (@bgarlinghouse) July 8, 2025
He argued that there should be legislation that tears the tasks of supervision, promotes technological progress and protects investors.
In view of a market capitalization of 3.4 trillion dollars for cryptocurrencies, Garlinghouse emphasized that this is not about finance, but about economic leadership.
A correctly carried out regulation, he concluded, could release growth and job security and make the country again a center for digital assets in the world.
No Comments