XRP's 7.7% Rally Fueled by Routine Paperwork, Not New ETF Approval

The price of XRP surged by approximately 7.7% on September 18 after a filing from Bitwise Asset Management appeared on the Securities and Exchange Commission's public database.

The document was an amendment to an already-operating fund, rather than a green light for a new product.

XRP opened the day near $1.30, reached an intraday high around $1.41, and closed at approximately $1.40, according to historical market data.

The move was part of a broader recovery that had begun days earlier, when the token dipped to $1.28 after trading above $1.42.