Growth in Ripple was spurred by reports of the possible launch of several ETFs based on it as early as November.
Ripple's XRP (XRP) cryptocurrency rose 10% in price over the day. The coin outperformed market leaders amid reports that several spot exchange-traded funds (ETFs) based on XRP could be launched in the US as early as November.
On November 10, XRP ranks fourth in terms of capitalization ($149 billion), according to CoinMarketCap. Ripple's coin is second only to Bitcoin, Ethereum, and the stablecoin USDT on this list. This cryptocurrency has been around since 2012 and is used as the native token of the XRP Ledger blockchain.
Five XRP ETFs offered by Franklin Templeton, Bitwise, Canary Capital, 21Shares, and CoinShares have been added to the Depository Trust & Clearing Corporation (DTCC) list, CryptoBriffing reported on November 9. It is noted that this may indicate the imminent launch of these funds, possibly as early as this month.
A spot exchange-traded fund based on cryptocurrency gives investors access to it in the form of regular exchange-traded shares. Such funds are required to purchase cryptocurrency when new shares are issued, which has provided the crypto market with a significant influx of capital and has been one of the drivers of growth since 2024, when the first ETFs on Bitcoin and Ethereum were launched.
In early October, analysts noted that the suspension of federal government operations in the US (the shutdown) could delay the review of applications for the launch of altcoin-based ETFs. On the morning of November 10, it became known that the US Senate had approved a bill that would end the shutdown, which had been going on for 40 days.
Also, at the beginning of the month, Ripple announced that it had raised $500 million from a group of institutional investors, including Fortress, Citadel, Pantera Capital, and Galaxy Digital funds. The funds were invested in exchange for shares in the company at its valuation of $40 billion. XRP showed virtually no reaction to this news.
On July 18 this year, the token updated its historical maximum at around $3.66. Since then, according to CoinGecko, it has fallen by 31%. The token falls into the “Made in the USA” category, and analysts linked its growth in 2025 to the overall more friendly regulation of cryptocurrencies in the US, which began with Donald Trump's rise to power.
