XRP Held Back by Soaring Oil Prices, Will It Rebound After Overcoming the Setback of Leveraged Fund Postponement?

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As macroeconomic headwinds such as geopolitical risks from the Middle East and soaring oil prices hit, XRP (Ripple) prices are under downward pressure, while the postponement of related fund launches and conflicting outlooks from within and outside the ecosystem intersect, heightening market tension.

According to FXEmpire, an investment media outlet, on April 24 (local time), XRP fell to $1.42 as global risk appetite deteriorated due to the stalled peace talks between the U.S. and Iran. Brent crude oil surpassed $105.50 per barrel for five consecutive days due to the de facto blockade of the Strait of Hormuz, increasing supply concerns. Consequently, the U.S. 10-year Treasury yield and the dollar index showed an upward trend for the first time in a month, while global stock markets turned downward, exerting significant downward pressure on the virtual asset market.

In addition to this macroeconomic instability, regulatory hurdles are also hindering a short-term rebound. Asset management firm Grayscale once again postponed the launch of its 3x leveraged and inverse XRP Exchange Traded Funds (ETFs) from April 23 to May 7. This marks the fifth postponement in the past three weeks, interpreted as a result of continuous pressure from the U.S. Securities and Exchange Commission (SEC), similar to ProShares' past withdrawal of its 3x leveraged product. The media analyzed that if the launch fails again on May 7, the prospect of launching the product within 2026 could become unclear.

Even amidst the pessimistic market, positive outlooks exist. Global asset management firm Bitwise is optimistic that XRP will be one of the assets to strongly benefit from the upcoming new crypto cycle. With Matt Hougan, Bitwise's Chief Investment Officer, scheduled to speak at the Las Vegas XRP event on April 30, expectations are rising that institutional investors' interest could refocus on this event.

Meanwhile, David Schwartz, Ripple's former Chief Technology Officer, has distanced himself from the government secret transaction theories recently circulating online. He directly refuted conspiracy theories linking XRP to covert national financial plans or future currency systems, firmly stating that no hidden conspiracies or massive government projects exist.

Schwartz urged investors not to be swayed by baseless rumors or unfounded blind faith, but to focus only on officially confirmed partnerships and actual use cases of the XRP Ledger. Amidst the reefs of macroeconomic uncertainty and fund delays, it remains to be seen how the self-purification efforts within the ecosystem, emphasizing real fundamentals, will affect future price movements.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*