REX-Osprey Solana Staking ETF To Launch On July 2, CEO Reveals

Despite rumors that the SEC approved a spot XRP ETF, this is inaccurate. The only new development concerns ProShares’ Leveraged and Short XRP Futures ETFs, which will begin trading on April 30.

It’s unclear how much these false claims impacted XRP’s price today, but they caused a lot of commotion. Fake crypto news has been taking off lately, and this could negatively impact investor confidence.

A US Spot XRP ETF Is Not Here Yet

The crypto industry is full of enthusiasm for an XRP ETF, especially since one began trading in Brazil last week.

However, there’s no shortage of overeager people who can spark and circulate optimistic rumors. ProShares’ new Futures ETF did indeed win approval, but this has no bearing on a Spot ETF:

UPDATE: a lot people posting/reporting that @ProShares will be launching XRP ETFs on April 30th. We’ve confirmed that’s not the case. We don’t have a confirmed launch date yet but we believe they will launch — and likely launch in the short or possibly medium term.

— James Seyffart (@JSeyff) April 28, 2025

Bitcoin, the first crypto-centric ETF category, achieved a futures ETF before a spot one. In some ways, the SEC’s approval of an XRP Futures ETF is a positive sign.

The Commission has an impending deadline to reject or confirm these proposals, and experts believe that approval is highly likely. Unfortunately, that does not change the reality today.

XRP’s price has been zig-zagging in the last 24 hours, with notable pullbacks. It isn’t fair to claim that ETF hype is the source of all XRP moves; several circumstances may be contributing to the situation.

Still, rumors have recently had a demonstrable impact on crypto markets, even when they’re completely false. These garbled claims may have affected XRP.

Confusion doesn’t help build a stable industry. Even if false ETF rumors temporarily boost XRP’s performance, that’s not a sign of long-term ecosystem health. Misinformation can significantly damage public trust, especially among retail investors.

For example, Eleanor Terrett commented on these rumors, claiming she’s “getting really sick of all the rude keyboard warriors in this community.”

Apparently, she received online hostility for trying to clarify the news decision despite being both correct and a respected source of pro-crypto journalistic coverage.

Spot ETF vs Futures ETF – What are the Differences?

Spot ETFs directly hold XRP tokens, providing investors with exposure to the actual cryptocurrency.​ These ETFs aim to mirror the real-time market price of XRP. So, there’s a straightforward correlation between the fund’s value and the token’s spot price.​

As of now, spot XRP ETFs are not approved in the US. Applications from firms like Grayscale and Bitwise are under SEC review.

Meanwhile, leveraged futures ETFs do not hold XRP directly. Instead, they invest in futures contracts that speculate on the future price of XRP.

Due to daily resetting of leverage, these ETFs can experience significant volatility and may not be suitable for long-term holding.

Even if these XRP ETF rumors came from a genuine misunderstanding, they’re still dangerous. In the future, the community must be careful to vet its sources and act in good faith to maintain public confidence.

The post ProShares XRP ETF Rumors Are Driving Market Confusion – What We Know So Far appeared first on BeInCrypto.

PI Network’s token plunged to a new all-time low on August 1 and has since entered a period of consolidation, showing little movement in either direction. 

The lackluster price action reflects a market in limbo, with traders awaiting a decisive move that could set the tone for PI’s next chapter.

PI Price Trapped Between Fear and Hope

Technical indicators observed on the PI/USD one-day chart confirm this stagnation. For example, PI’s Relative Strength Index (RSI) has trended flatly since the sideways trend began, confirming the relative balance between buying and selling pressures in the market. 

For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.

When price action flattens like this, it reflects a struggle between buyers and sellers, with neither side able to push the market decisively higher or lower. 

Moreover, PI’s Average True Range (ATR) has trended downward since August 2, confirming the market’s indecision. As of this writing, this indicator stands at 0.03.

The ATR indicator measures the degree of price movement over a given period. When it trends downward like this, volatility is dropping. Price changes are becoming smaller and less frequent. 

As with PI, this often happens during consolidation phases, where the market waits for a breakout. It marks periods of uncertainty when traders are not committing strongly in either direction.

Range-Bound PI Eyes Breakout—But Which Way Will It Go?

PI buyers appear hesitant to step in and are wary of further downsides, especially as the project continues to unlock new tokens. Over the next 30 days, 166.21 million PI tokens valued at $59 million at current market prices are set to be unlocked, per PiScan.

If the supply shock from PI’s token unlock continues to weigh on market sentiment, it could break below its range to revisit its all-time low of $0.32.

However, a break to the upside is likely if new demand resurfaces. In this scenario, PI’s price could climb toward $0.44. 

The post PI Network Struggles at New Low as Market Awaits Its Next Major Shift appeared first on BeInCrypto.