Ripple’s XRP is gaining strong momentum in late 2024, fueled by regulatory uncertainty, growing institutional interest, and surging derivatives activity. Trading near $1.18, the remittance-focused cryptocurrency posted a 10% gain following reports of SEC Chair Gary Gensler’s upcoming resignation and the debut of a new physically backed XRP exchange-traded product (ETP) in Europe. With open interest in XRP futures climbing to a record high above $2.1 billion, market sentiment points toward a potential 45% rally toward $1.96—provided key technical levels hold.
XRP ETP Launch in Europe Signals Growing Institutional Adoption
WisdomTree has officially launched the WisdomTree Physical XRP ETP (XRPW) in Europe, marking another milestone in the institutional acceptance of XRP. Listed across major European exchanges—including Börse Xetra, SIX Swiss Exchange, and Euronext Paris and Amsterdam—the ETP offers investors direct exposure to the spot price of XRP, fully backed by physical holdings stored in cold storage.
👉 Discover how institutional crypto products are reshaping digital asset access.
This product claims to be the lowest-cost XRP ETP in Europe, emphasizing simplicity, security, and cost-efficiency for both retail and institutional investors. The launch reinforces a broader trend: traditional finance (TradFi) players are increasingly integrating major cryptocurrencies into regulated investment vehicles.
The success of similar ETPs for Bitcoin and Ethereum in Europe has set a strong precedent. Now, with XRP joining the lineup, speculation is mounting that a U.S.-based XRP exchange-traded fund (ETF) could follow—if regulatory conditions allow. While the U.S. Securities and Exchange Commission (SEC) has historically resisted crypto ETF approvals outside of Bitcoin, Ripple’s partial legal victory may shift the landscape.
SEC Chair Resignation Casts Doubt on Ripple Appeal
Adding to the bullish sentiment is the news that SEC Chair Gary Gensler will step down on January 20, 2025. His resignation comes at a pivotal moment in the long-running SEC vs. Ripple lawsuit, which concluded in July 2023 with a landmark ruling by Judge Analisa Torres.
The court determined that XRP sales to retail investors via programmatic trading on exchanges do not constitute securities offerings—a major win for Ripple and the broader crypto industry. However, the judge also ruled that institutional sales of XRP were unregistered securities transactions, resulting in a $125 million civil penalty for Ripple.
Despite initial signals that the SEC might appeal the decision, Gensler’s departure—and the incoming administration’s pro-crypto stance—makes an appeal increasingly unlikely. President-elect Donald Trump has publicly advocated for a more innovation-friendly regulatory environment for digital assets, further reducing pressure on the SEC to pursue further litigation.
This regulatory uncertainty resolution could pave the way for more crypto projects to seek clarity through legal channels, potentially reducing market-wide fear, uncertainty, and doubt (FUD).
Open Interest Hits All-Time High Amid Bullish Sentiment
One of the strongest indicators of growing market confidence in XRP is the surge in futures open interest (OI). On Thursday, OI for XRP futures surpassed $2.1 billion—a new all-time high—signaling increased participation from leveraged traders and institutional players.
Open interest represents the total number of outstanding derivative contracts. A rising OI alongside price appreciation typically reflects sustained bullish momentum, as new money enters the market rather than short-term speculation dominating.
Despite $13.8 million in liquidations—$8.63 million in longs and $5.17 million in shorts—XRP held its ground above $1.15, demonstrating resilience. This suggests that selling pressure from leveraged positions did not derail broader buying interest.
Technical Outlook: Can XRP Rally 45% to $1.96?
From a technical perspective, XRP is forming what appears to be a rounded bottom pattern on its weekly chart—a classic bullish reversal structure often seen after prolonged downtrends.
The key resistance level sits near $1.35**, a three-year price ceiling that has repeatedly rejected bullish attempts. A decisive breakout above this level on strong volume could trigger a wave of algorithmic and institutional buying, potentially propelling XRP toward **$1.96, a 45% upside from current levels.
Indicators support this bullish case:
- The Relative Strength Index (RSI) is emerging from oversold territory, suggesting momentum is building.
- The Stochastic Oscillator also shows signs of reversal after prolonged bearish alignment.
However, traders should remain cautious. A weekly candle close below $0.74 would invalidate the bullish thesis and could signal a resumption of bearish control.
👉 Explore real-time futures data and track open interest trends across major cryptos.
Frequently Asked Questions: SEC vs. Ripple Lawsuit
Is XRP considered a security?
According to Judge Torres’ July 2023 ruling, it depends on the context of the sale:
- Not a security: When sold to retail investors via programmatic sales on exchanges or through on-demand liquidity platforms.
- A security: When sold directly to institutional investors or through over-the-counter (OTC) deals.
This distinction creates a transaction-based framework rather than labeling XRP as inherently a security or commodity.
What was the outcome of the SEC’s case against Ripple?
The court delivered a partial victory for both parties:
- Ripple won on the critical point that programmatic sales of XRP are not securities, setting a potentially favorable precedent for other crypto projects.
- The SEC succeeded in proving that institutional sales violated securities laws, resulting in a $125 million fine for Ripple.
Could this ruling set a precedent for other cryptocurrencies?
While not binding across all cases, the ruling provides legal clarity that could influence ongoing SEC actions against other digital assets like Cardano (ADA), Polygon (MATIC), and Solana (SOL). It underscores that how and to whom a token is sold matters more than the token itself.
Will there be an XRP ETF in the U.S.?
An ETF approval remains uncertain but more plausible now than before. The combination of Gensler’s departure, growing ETP adoption in Europe, and Ripple’s legal win strengthens the case—but final approval would depend on the SEC’s evolving stance under new leadership.
Why did open interest rise so sharply?
Increased open interest reflects growing confidence among derivatives traders. With regulatory risks fading and institutional products launching, more traders are opening leveraged long positions, anticipating higher prices.
What factors could derail XRP’s rally?
Key risks include:
- A surprise SEC appeal announcement.
- Macroeconomic downturns affecting risk assets.
- Failure to break above $1.35 with volume.
- Regulatory crackdowns on other crypto platforms affecting market sentiment.
Final Thoughts: XRP at a Crossroads
XRP stands at a pivotal juncture in 2025. Regulatory headwinds are easing, institutional infrastructure is expanding, and technical indicators suggest strong upside potential. While challenges remain, the confluence of legal clarity, product innovation, and market momentum makes XRP one of the most closely watched assets in the crypto space this year.
As global financial systems continue exploring blockchain-based settlement solutions, Ripple’s foundational role in cross-border payments could further amplify demand for XRP—especially if more banks and payment providers adopt its technology.
👉 Stay ahead of crypto market movements with advanced trading tools and real-time analytics.
Core Keywords: XRP, Ripple, SEC vs Ripple lawsuit, XRP ETF, open interest, cryptocurrency regulation, WisdomTree XRP ETP, XRP price prediction