FOMC and Canadian ETF Launch Fall Short in Boosting XRP Price: What Trigger Does XRP Require?

The price of XRP is currently declining and holding below the $3.50 mark. Ripple is facing difficulties in gaining traction even after the introduction of three spot XRP ETFs in Canada and ongoing FOMC anticipation in the U.S.

The XRP Army frequently hopes for a continuous upward trajectory for the coin. It has experienced an upward trend, and since Donald Trump assumed the presidency, XRP ▲0.96% has climbed in market capitalization ranks and is now regarded as one of the top cryptocurrencies to purchase.

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XRP Price Stabilizes

It remains to be seen if XRP will surpass $3.50 in June 2025. Nevertheless, optimists believe prices will rise and overcome significant resistance around $2.40 and $2.60 in the near future.

From a technical standpoint, local base level is positioned at $2.00. As long as prices stay above this threshold, buyers may perceive every decline as an opportunity to accumulate.

Various factors, such as favorable regulations and institutions eager to develop intricate XRP products, could bolster prices. Nonetheless, the crypto token is currently moving sideways, with buyers holding back, a trend also impacting some of the leading Solana meme coins.

Launch of Spot XRP ETF in Canada

The introduction of Canada’s initial spot XRP ETFs was anticipated to enhance prices, as institutions in the nation now have a clear path for direct exposure to XRP.

Purpose Investments, 3iQ, and Evolve ETFs have launched spot XRP ETFs, listing them on the Toronto Stock Exchange (TSX) on June 18 under the tickers XRPP, XRPQ, and XRP respectively.

Pascal St-Jean, President & CEO, @3iq_corp, and his team, joined us to close the crypto market and celebrate the launch of their 3iQ XRP ETF (TSX:XRPQ).

“The launch of $XRPQ signifies another achievement in our mission to offer investors easy, cost-effective access to digital… pic.twitter.com/HI6P8suRGx

— Canada’s Markets (@tsx_tsxv) June 18, 2025

As is standard with any spot XRP ETF, shares issued are fully backed by XRP. Investors acquiring them are also eligible for tax-sheltered investment accounts like TFSAs and RRSPs in Canada.

Examining the structure of these spot XRP ETFs, Purpose Investments’ offering consists of USD-denominated and CAD-hedged versions of their XRPP.

Meanwhile, 3iQ aimed for a competitive edge by eliminating fees until year-end to attract more inflows.

In the U.S., the SEC has yet to give the green light for any spot XRP ETF. Notable entities that have applied for this derivative product include Franklin Templeton and 21Shares.

Following the SEC’s postponement of its decision on the Franklin Templeton spot XRP ETF application on June 17, attention is focused on whether the regulator will also delay approval on the Grayscale application due on October 18.

In general, Polymarket bettors believe there’s a 90% likelihood that a spot XRP ETF will be approved in the United States by 2025’s conclusion.

(Source)

Disappointment from the FOMC on Crypto

Significant expectations surrounded the FOMC meeting in the U.S.

Though the Federal Reserve was anticipated to maintain rates between 4.25% and 4.50%, the Jerome Powell press conference was expected to sway markets. However, it failed to do so.

Instead, the Federal Reserve exercised caution, mentioning risks from Donald Trump’s tariffs. They also referenced persistent inflation and strong labor markets.

This combination resulted in the central bank keeping rates steady, discouraging aggressive positions in crypto assets, including XRP.

Referring to the FOMC Dot Plot, the trading market continues to expect two 25-basis-point cuts in 2025. Nevertheless, from Jerome Powell’s remarks, the central bank holds a hawkish stance.

(Source)

Notably, seven members of the FOMC now support no cuts in 2025, an increase from earlier predictions.

Furthermore, the FOMC remains reliant on data. While rate cuts may occur in future meetings, they continue to evaluate the effects of tariffs on inflation, potentially hindering economic expansion.

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The article FOMC and Canadian ETF Launch Fail to Boost XRP Price: What Catalyst Does XRP Need? was first published on 99Bitcoins.