XRP price rose amid news that Purpose Investments is set to launch a spot XRP spot exchange-traded fund.
The Purpose XRP ETF is set to launch on the Toronto Stock Exchange on June 18, 2025.
XRP is among several altcoins awaiting spot ETF approval in the United States.
XRP price surged by nearly 7% as cryptocurrencies mirrored a bounce on Wall Street amid investor confidence in a potential Israel-Iran peace deal.
While this is one of the main drivers of XRP price edging higher alongside Bitcoin and top altcoins, there was a slight jump as Canada-based asset manager Purpose Investments announced the upcoming launch of its XRP spot exchange-traded fund.
XRP was up amid a spike in daily volume, which had seen a 110% increase to over $3.45 billion.
Purpose XRP ETF set for launch
On Monday, June 16, 2025, Purpose Investments said in a press release that it had secured approval to launch the Purpose XRP ETF.
The final prospectus receipt from Canadian regulators means Purpose can now launch its spot XRP ETF on the Toronto Stock Exchange.
According to Purpose, the ETF goes live on the stock exchange on June 18 under the ticker XRPP.
“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,” Vlad Tasevski, chief innovation officer at Purpose Investments, said. “We’re proud to continue pushing the boundaries of what’s possible in the space by offering investors simple, secure access to the infrastructure powering real-world blockchain adoption.”
XRP ETF launching in Canada is a milestone ahead of a potential approval in the United States.
After receiving numerous applications, the SEC is approaching deadlines for Ripple’s token. Odds are also high for Solana, Litecoin, and others.
Analysts say the launch of spot crypto ETFs could be one of the catalysts for parabolic price gains.
Is XRP price set to explode?
Ripple’s token XRP is one of the top altcoin gainers in the past year.
With the regulatory headwinds that bogged bulls down amid an SEC vs. Ripple tussle now gone, XRP price rose to hit highs of $3.30. The yearly peak was just shy of XRP’s all-time high of $3.82 reached in 2018.
In terms of XRP price prediction, analysts say the cryptocurrency could explode past the above peak in 2025.
Network growth and other factors, including spot ETF approval in the US, could be massive bullish catalysts.
According to market intelligence and on-chain data platform Santiment, the XRP network has surged in growth metrics. It includes active addresses, whale activity, and daily transactions.
Santiment noted this on X as XRP price jumped 7% to trade around $2.30.
“The amount of interacting $XRP addresses has averaged over 295K per day over the past week. Its normal daily average over the past 3 months was approximately 35-40K. Additionally, there are now over 2,700 whale & shark wallets holding at least 1M $XRP for the first time in the asset’s 12+ year history.”
Data from Coinglass shows open interest in XRP is up 11.9% to over $4.34 billion.
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