NEW YORK, April 24, 2026, 06:06 EDT
- XRP hovered close to $1.43, with traders sizing up new spot ETF inflows while also factoring in the postponed launch of the planned 3x XRP funds.
- GraniteShares has pushed the effective date for its filing on long and short 3x daily crypto ETFs to May 7.
- Now the question: can ongoing institutional interest balance out softer momentum and regulators’ wariness toward leveraged products?
XRP hovered close to $1.43 on Friday, as GraniteShares put its planned 3x long and short XRP daily ETFs on hold. With that catalyst off the table for now, traders were left sifting through inflow numbers and little else to fuel a decisive move higher.
Timing’s key here: XRP has hovered just below the mid-$1.40s all week—testing resistance, not breaking out. As of the latest CoinMarketCap read, the token was at $1.43, up 0.83% over the past 24 hours. Market cap is roughly $87.9 billion, good for the number four spot among cryptocurrencies.
Spot exchange-traded funds, or ETFs, now offer institutions a more streamlined way into XRP—fund shares stand in for holding the token itself. The risk ramps up with the next crop of products. Leveraged ETFs, built on derivatives, crank up daily swings, boosting returns and losses alike.
GraniteShares marked May 7, 2026, as the effective date for a post-effective amendment affecting eight of its products—specifically, the 3x long and short daily ETFs tied to Bitcoin, Ether, Solana, and XRP—according to a filing reflected on StreetInsider. William Rhind, who serves as president of the GraniteShares ETF Trust, signed off on the amendment back on April 22.
According to GraniteShares’ prospectus, the 3x Long XRP Daily ETF aims to deliver three times XRP’s daily percentage change. As for the 3x Short XRP Daily ETF, it targets three times the inverse daily move. The filing notes these funds are built for short-term trading and carry more risk than non-leveraged funds.
XRP picked up some backing from fund-flow numbers. According to SoSoValue figures shared by KuCoin, U.S. spot XRP ETFs saw $3.8857 million in inflows on April 23—all of it landing in Franklin Templeton’s XRPZ fund. Total net inflows now sit at $1.284 billion, with net assets reported at $1.082 billion.
The flow story isn’t all in one direction. Some reports highlight that XRP spot ETFs haven’t logged a single net outflow day since April 9, pulling in $71.31 million this month. Yet, price action tells a different tale—XRP has barely budged outside its existing range. For bulls, that’s the sticking point: buyers are showing up, just not with enough muscle yet.
Competition is fierce. Bitcoin and Ether still set the pace for crypto ETF markets, with Solana and XRP jostling for position as the next altcoin ETF contenders. Last year, Reuters said new SEC listing standards trimmed the spot crypto ETF approval window down to 75 days—previously it took as long as 240. Solana and XRP products are tipped to be among the first out of the gate under these updated rules.
XRP’s legal baggage isn’t what it used to be, though investors haven’t forgotten it. Back in August, Reuters said the SEC dropped its lawsuit against Ripple but left a $125 million penalty standing. The move followed a court decision that XRP on public exchanges didn’t count as a security, but certain institutional sales should’ve followed securities regulations.
There’s a risk the ETF bid loses momentum before new, delayed products hit the market—or that regulators grow less tolerant of complex funds. Back in December, Reuters reported the SEC had warned nine ETF firms, GraniteShares among them, demanding details on products offering up to five times exposure to underlying stocks. Dave Mazza, Roundhill Investments’ chief executive, stopped short of calling it “a broad clampdown,” but acknowledged it marked “a firmer boundary around product complexity.” Reuters
XRP’s price action looks hesitant, with investors demanding clearer signals before committing. Spot ETF flows remain in the mix, though leverage-focused products haven’t started trading yet. Breaking through that resistance zone? It’s going to take more than just a modest uptick in inflows.
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