Key Insights:
- XRP price Bullish breakout targets $4.80 and $8.00 in near term.
- XRP ETF goes live June 18 on Toronto Stock Exchange.
- Active addresses hit 1.12M — a multi-month high.
XRP price momentum may surge soon as Purpose Investments prepares to launch its Purpose XRP ETF on June 18. The fund will begin trading on the Toronto Stock Exchange under tickers XRPP (CAD-hedged), XRPP.B (CAD), and XRPP.U (USD), offering investors direct exposure to spot XRP.
XRP ETF Launch Approved for Toronto Stock Exchange
Purpose Investments has received final approval from Canadian regulators to list the Purpose XRP ETF. This fund will make its initial trade on June 18, and it is designed to offer direct access to spot XRP, the indigenous token of the XRP Ledger. The ETF will have three different versions: CAD-hedged, CAD non-hedged, and USD ETF under the tickers XRPP, XRPP.B, and XRPP.U, respectively.
The ETF is eligible for registered investment accounts such as TFSAs and RRSPs, making it more accessible to Canadian retail investors. Vlad Tasevski, Chief Innovation Officer at Purpose Investments, stated: “The OSC’s granting of a receipt for the Purpose XRP ETF prospectus reinforces Canada’s global leadership in building a regulated digital asset ecosystem.” He added that the fund aims to provide secure and simple access to blockchain infrastructure.
Purpose Investments has previously launched Bitcoin and Ethereum ETFs, positioning itself as a leader in the digital asset fund space in Canada. With this XRP product, it continues expanding regulated exposure to cryptocurrencies.
XRP Network Activity Surges to Record High
Per the market analyst Ali charts, on June 9, XRP active addresses were above 1.12 million, which is the highest number recorded in months. This measure shows a steep rise in the number of users on the XRP Ledger, which has been interpreted in many circles as an indicator of future heightened volatility in the price.
Data on the chart indicates that active addresses increased consistently during April and until April-mid-May, followed by a minor setback, and finally elevated in June-early. The price of XRP had reached a high of 2.17 on the day when the address count set an all-time high, indicating that heightened network activity is running hand in hand with the growing interest in the market.
The pattern shows that XRP is getting a second look by both retail as well as institutional investors. Such persistent activity on this front may help in enhancing the market liquidity and assist in keeping prices at higher levels, in the short run.
XRP Price Bullish Breakout Targets Higher XRP Price Levels
According to market analyst JavonTM1, a bullish breakout has been found on the chart of XRP/USD, indicating a potential continuation of an upward trend. As shown in the chart, XRP moved out of a falling wedge formation, which is usually interpreted as a bullish factor, following a previous very sharp uptrend in prices.
The wedge formation took place in a number of months after the initial breakout of XRP that happened at the end of 2024. The price has just penetrated above the upper resistance trend line price after consolidation in this structure. The traders use this breakout as a confirmation of a bullish move gathering steam.
The technical projections have been given as price targets at both $4.80 and $8.00. These are the levels that are associated with resistance zones in history and the measurement of the potential increase of the wedge pattern. Should XRP continue price action higher than the price breakout level and trading volume further increase, these targets would be a possibility.
XRP Price Open Interest Surges in Derivatives Market
Coinglass open interest data indicates that the positive emotions driving the XRP market nowadays are justified. There has been an increase in the total open interest by 7.84% to reach a high of 1.8 billion in the last 24 hours. This growth is mainly occasioned by the fact that perpetual contracts increased by 7.86%, which indicates an increase in speculative practices by traders.
A recent XRP price prediction suggests a possible short-term decline of 0.70%, with the token potentially reaching $2.24 by July 15, 2025. While the immediate outlook appears slightly bearish, the overall sentiment remains bullish, supported by a Fear & Greed Index reading of 61 (Greed). In the past 30 days, XRP posted 15 green days and maintained a steady average volatility of 3.76%.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
Olivia Stephanie is a FinTech enthusiast with a keen understanding of financial markets. Her passion for economics and finance has led her to explore emerging blockchain technology and cryptocurrency markets.