XRP, the fifth-largest cryptocurrency closely tied to Ripple, has reported a notable increase of nearly 5% in the last 24 hours, positioning it at $1.42. This surge has allowed XRP to outpace well-known cryptocurrencies such as Bitcoin, Ethereum, and Solana. Traders are increasingly optimistic about XRP’s potential to exceed the $1.50 mark in March, with prediction market-implied odds escalating to 67% on Tuesday, up from 50% the previous day. These probabilities are provided by event contracts through Robinhood Derivatives, LLC and sourced primarily from KalshiEx LLC or ForecastEx LLC.
Despite the recent positive movement, XRP remains significantly lower than its price of $2.26 at the time of its spot ETF launch in November 2025. Notably, XRP ETFs have shown resilience despite a broader market pullback, amassing a cumulative total of $1.4 billion since their inception, as reported by Bloomberg ETF analyst James Seyffart. Among the largest holders of these spot XRP ETFs are prominent financial institutions such as Goldman Sachs, with an investment of $153.8 million, Millennium Management at $23.1 million, and Logan Strone Capital with $5.3 million, according to data from Bloomberg Intelligence. Seyffart noted that the actual number of buyers and holders is likely larger, as many do not file 13Fs, making comprehensive tracking challenging.
In terms of profitability, over 56% of XRP’s supply is currently not in profit, as indicated by data from blockchain analytics firm Glassnode. A senior analyst from Glassnode, operating under the pseudonym CryptoVizArt, commented on the nature of crypto ETFs, emphasizing that while they serve as access vehicles for traditional financial participants to engage with digital assets, they do not fundamentally drive long-term demand. Instead, they may act as short-term catalysts for market momentum, particularly sparking speculative interest among retail investors. The analyst cautioned that ETFs should not be perceived as reliable mechanisms for guaranteeing sustained demand over the long term.
In related developments, Ripple’s stablecoin, RLUSD, is approaching its all-time high in market capitalization, now reaching nearly $1.59 billion, a substantial increase from $1.28 billion at the year’s start. This uptick further underscores the growing interest and investment in the cryptocurrency sector.
