Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Ripple Labs (CRYPTO: XRP) is holding near $2.30, finding support at $2.28 and stalling below $2.35. The token remains in consolidation after a breakout from a long-term descending triangle.
The price action is driven by regulatory catalysts like the SEC's review of XRP ETF, amid institutional speculation leading to creation of $121 million XRP based treasury. The U.S. SEC has officially opened a review of the proposed spot XRP ETF by WisdomTree. The filing kicks off a 240-day evaluation period and invites public comment on investor protection, marking the furthest any spot XRP ETF has progressed.
While a final decision is still months away, the review is being read as a signal that institutional interest is reaching critical mass. Don't Miss: Stuart Alderoty, Chief Legal Officer of Ripple, submitted a letter to the US SEC arguing that XRP should not be classified as a security. He proposed a “maturity” test to determine when digital tokens should exit securities law, citing decentralization, utility, and lack of issuer control.
Ripple called for a safe harbor to shield developers in the early stages of token development. The SEC’s engagement is widely seen as a milestone toward XRP’s inclusion in regulated financial products. VivoPower International PLC (NASDAQ:VVPR) announced a $121 million private share placement to support an XRP-focused treasury strategy.
The round, led by Saudi Prince Abdulaziz bin Turki, added former SBI Ripple Asia executive, Adam Traidman, as an advisor. VivoPower shares surged over 25% following the announcement. Other corporations are quietly exploring XRP allocations.
While most remain undisclosed, more than $120 million has reportedly been raised this month to fund enterprise-level XRP integrations in cross-border payments. Open interest in XRP derivatives has climbed to $4.87 billion in the past 24 hours, driven by the launch of CME Group Inc's (NASDAQ:CME) cash-settled XRP futures. The regulated CME CF XRP-Dollar Reference Rate has attracted directional traders and corporates’ hedging exposure.
XRP is trading above its 50-day moving average, with resistance in the $2.35–$2.40 range. A clean break could open a path to $3.40, while a drop below $2.30 would expose a downside toward $2.20. Volume has lightened, indicating many traders are staying on the sidelines while waiting for regulatory clarity.
