Coinbase officially launched XRP futures contracts on its U.S. Derivatives Exchange on April 21. The XRP futures saw strong performance, with daily trading volume already surpassing 100 million USDC. The strong start shows the increasing demand and interest from both retail and institutional traders.
The futures include two types of contracts, Standard Contracts representing 10,000 XRP, aimed at large institutions and active traders, and retail-oriented “nano” contracts representing 500 XRP each, or approximately $1,000 as of April 21, for retail traders and smaller institutions, as per the filings.
Coinbase expanded its offering adding to its 20+ existing contracts on assets like Bitcoin, Ether, Dogecoin, and Solana. The launch also follows recent additions of CFTC-regulated Cardano and Natural Gas futures.
Major exchanges like Coinbase, Robinhood and CME have been expanding their crypto futures offerings to cater to the rising demands. Coinbase now lists derivatives for over 92 assets globally and around 24 in the US. Derivatives trading on the exchange soared over 10,000% last year. The exchange is also reportedly eyeing Deribit acquisition to expand its presence.
Oregon Files Lawsuit Against Coinbase
Just days before Coinbase launched XRP futures, the Oregon Attorney General filed a lawsuit against the exchange claiming that the 31 tokens including XRP, UNI, LINK, AAVE, and MKR, are unregistered securities sold on Coinbase.
Paul Grewal, Coinbase CLO also condemned Oregon’s Attorney General for filing the lawsuit and warned that this lawsuit could not just harm Coinbase, but the entire crypto industry. He claimed the lawsuit lacked credibility and was motivated by political and financial interests.
There is a subtle shift in the crypto ecosystem with altcoins like Dogecoin (DOGE) currently facing price uncertainty from market whales. According to data insight from crypto analyst Ali Martinez, over the past week, as many as 570 million DOGE were unloaded by whales. With the current outlook, the potential impact on the Dogecoin price remains a concern for market watchers.
Dogecoin and the Whales Offset
According to the current market outlook, the 570 million DOGE whale was worth approximately $89.26 million. Per the chart shared, the selloff came mostly from whales holding between 10 million and 100 million DOGE. The chart trend shows that the current level is the lowest these whales have traded the coin since at least April 6.
The related DOGE whale dumping trend has been recorded in the past, and it has had a visible impact on the price of the memecoin. Despite this offsetting trend, one Analyst on X, Olivier Maximus, maintained conviction that this will not derail the growth trend.
The overall impact of the market selloff often causes a shift in positive sentiment. As a result, more holders, whether retail or institutional, can choose to start selling their coins, which is a bad move for the price.
Dogecoin Price: Is There a Threat?
With a broad-based price offset, DOGE as an asset is not in isolation now, as other coins are also facing brutal whale selloffs. However, Dogecoin’s price volatility hinges on different ecosystem trends, which have placed it in the spotlight.
At the time of writing, the top memecoin was changing hands for $0.1572, down by 0.25% in 24 hours. The coin maintains consolidation at the $0.16 price level, forming a formidable resistance in the short term.
Notably, earlier DOGE price analysis teased a potential $5.6 breakout based on a falling wedge formation. Despite the whale selloff, as spotted earlier, the price recovery trend is evident. Dogecoin is not under valuation threat in the short term.
The DOGE ETP Advantage
Although volatility is a major challenge for Dogecoin, the digital currency also has some positive ecosystem offerings. As reported earlier, Swiss asset manager 21Shares launched Dogecoin ETP, the first product of its kind in the industry.
This product is considered a major precursor to the expected spot Dogecoin ETF product in the United States. These products generally negate the outlook defined by the volatility and whale selloff as they may usher institutional investors to the memecoin soon. Beyond 21Shares, other asset managers, including Bitwise and Grayscale Investments, are also pushing for similar products.
XRP investors are still in the red for the year, as the popular coin crashed by over 40% from its highest level in January. This XRP price crash has erased some of the coin’s gains in November of last year. This article looks at three key reasons why Ripple may surge in the long term after Standard Chartered delivered a $693B prediction.
Standard Chartered Delivers a $695 Billion XRP Price Prediction
Analysts at Standard Chartered, who have been accurate on their crypto forecasts, have delivered a bullish XRP price prediction. In a note, the analysts predicted that it will end the year at $5.5, up sharply from the current $2. They then expect it to get to $12.5 by 2028, which would imply a 525% jump from the current level. Such a move is possible since XRP jumped by almost 500% in November.
A move to that price target would boost the coin’s market cap to over $693 billion, up from $111 billion. This prediction is based on the current circulating supply of 58 billion. Assuming that Ripple Labs unlocks about 400 million tokens a month as it has done in the past, it means that there will be about 71.47 billion XRP tokens in circulation. This would give the network a market cap of over $892 billion.
Ripple Acquisition of Hidden Road
The other main catalyst that may push XRP price higher is its latest acquisition of Hidden Road, a company that offers prime brokerage, clearing, and financing across traditional and digital assets. In a statement, one crypto analyst said the following about the transaction:
“Ripple owns a top custody platform, they now own a prime brokerage, they already do payments. There’s a new financial world being built, and Ripple will own its essential pieces and tie them together with XRPL and XRP.”
The deal will help to make Ripple a bigger player in the financial services industry. Keep in mind that Ripple is already working to create partnerships as it seeks to disrupt SWIFT, the giant network that handles trillions annually. The path to these partnerships has been made clearer after the end of theSEC case against Ripple.
XRP Price Technical Analysis Says a Rebound is Possible
The other main reason why the XRP price may rebound is that it has strong technicals. The weekly chart shows that the coin has constantly remained above the 100-week moving average, a sign that the bullish trend is still intact.
Also, the coin has retested the major S/R level of the Murrey Math Lines tool and formed a doji candlestick pattern. A doji often leads to a strong recovery over time. Ripple price has also retested the key support at $1.9752, the upper side of the cup and handle pattern that formed between 2021 and 2024.
XRP Price Chart
Therefore, the coin will likely rebound in the long term, potentially rising to the YTD high of $3.4 and then $5. A drop below the major S/R level will cancel the bullish Ripple forecast.
Ripple’s XRP token climbed 2.3% on Wednesday, crossing the $2.20 level for the first time in two weeks as ETF optimism gripped altcoin markets. The XRP price breakout follows a sustained consolidation below the $2.10 technical resistance zone that had capped gains since early April.
US SEC Review 72 Altcoin ETF Applications | Source: X.com/EricBalchunas
The broader crypto market witnessed moderate gains midweek, buoyed by expectations of a more favorable regulatory outlook following recent changes at the U.S. Securities and Exchange Commission.
Notably, Ripple price outperformed rival altcoins like BNB and Tron (TRX) on Wednesday. This is attributed to recent comments from Bloomberg’s Chief ETF Analyst Eric Balchunas suggested that the SEC may be nearing decisions on 72 altcoin ETF applications—most notably for XRP, Litecoin (LTC), and Solana (SOL).
Markets now pricing in 30% SOL ETF approval odds
Betting activity on decentralized prediction market Polymarket indicates that crypto investors have priced in a 32% chance of ETF approval for key altcoins. This reflects a 10% increase following the official swearing-in of Paul Atkins—known for his pro-crypto stance—as the new SEC Chair under the Trump administration.
Solana ETF Approval Odds hit 32%, April 24, 2025 | Source: Polymarket
Atkins’ appointment has heightened expectations that the regulatory body will pivot toward a more friendly stance on altcoin etfs in reviews, especially those with established market depth like XRP.
However, the current market structure also carries risks. With such high expectations, traders should be cautious of potential “sell-the-news” dynamics. Strategic investors may seek to offload positions upon official ETF approval, dumping on retail buyers.
Analyst Oscar Ramos $5 prediction remains in play
Technical analyst Oscar Ramos reaffirmed his long-term bullish outlook on XRP earlier this month, predicting the token could reach $5 by the end of 2025. In a video published on April 9, Ramos outlined an Elliott Wave scenario in which XRP completes a long-term bullish breakout, driven by institutional flows and regulatory clarity.
Ripple (XRP) price action, April 9 to April 23 2025 | Source: TradingView
Since Ramos’ prediction, XRP has surged 33% from $1.72 to $2.25, reinforcing confidence in his medium-term thesis. The rally has coincided with heightened interest from ETF speculators and broader anticipation of increased altcoin legitimacy under the new SEC regime.
Should the ETF verdict fall in XRP’s favor and institutional allocations materialize, Ramos’ $5 target could shift from speculative to structurally plausible. However, any delays or unfavorable rulings would likely delay that timeline, reinforcing the caution as market trends remain volatile.
XRP price continues to trade within a cautiously bullish structure after gaining over 33% in the last two weeks, closing Wednesday at $2.2257. Price action on the daily chart suggests a breakout attempt from a tight consolidation range that held since April 10, with XRP briefly testing the upper Donchian Channel band at $2.3010. This level marks immediate resistance, and a daily close above it could validate bullish continuation toward the $2.50 zone.
XRP Price Forecast Today
The 14-day rally, measured from the recent $1.72 swing low, occurred on increasing volume (2.57B) and signals solid market participation, a key condition for sustainable upward momentum.
The RSI-based oscillator (RSiOMA) shows a strengthening trend, with the green RSI line crossing above its moving average and holding near 49, suggesting buyers remain in control, though not yet in overbought territory.
However, failure to breach the $2.30 resistance could expose XRP to a pullback toward the $1.95 midpoint support.
A decisive rejection here may fuel a short-term correction, particularly if broader market sentiment falters or traders sell the news following ETF verdict speculation. For now, the structure leans bullish with an eye on $2.30 as a make-or-break level.
