XRP (XRP) rose 5.36% in the last 24 hours.

Gate News Bot news, on July 11, according to CoinMarketCap data, as of the time of writing, XRP (XRP) is currently priced at $2.53, with a rise of 5.36% in the last 24 hours, reaching a peak of $2.56 and a low of $2.20. The 24-hour volume reached $6.198 billion. The current market capitalization is approximately $149.557 billion, an increase of $7.614 billion compared to yesterday.

The XRP Ledger (XRPL) is a decentralized, public blockchain led by a global community of enterprises and developers, dedicated to solving problems and creating value. With over 10 years of error-free operation validation, XRPL offers simplified development, low transaction costs, high performance, and sustainability. Developers can confidently build and advance key projects on this foundation.

Recent important news about XRP:

1️⃣ XRP ETF approval expectations heat up The US SEC may introduce new regulations to shorten the ETF approval process to 75 days, and the market expects the probability of XRP ETF approval to rise to 90% before 2025. This potential reform will benefit various cryptocurrency asset ETF applications, including XRP. XRP is expected to be among the next batch of approved listings, becoming a key factor in boosting its price.

2️⃣ Ripple vs SEC lawsuit expected to end The market is optimistic that the four-year legal dispute between Ripple and the SEC is about to end. The SEC chairman and commissioners will vote on July 10 whether to withdraw the appeal against the ruling on the programmatic sales of XRP. If the SEC abandons the appeal, it will clear regulatory hurdles for XRP, potentially driving its price to break through.

3️⃣ A large influx of funds into the derivatives market XRP derivatives open interest ( OI ) surged by 9.19% to $5.15 billion, and the total derivatives volume skyrocketed by 81.07% to $7.35 billion, reflecting strong speculative demand. A substantial influx of funds supports short-term price momentum, and XRP's successful recovery of the $2.25 key level has also strengthened technical confidence.

From a technical perspective, XRP has broken through the $2.32 resistance level. If it can maintain this position, it is expected to further attack the $2.65 or even $3 area. In the short term, the price movement of XRP will mainly depend on the SEC's appeal decision and the related progress of the US XRP spot ETF.

This message is not intended as investment advice; investors should be aware of market volatility risks.