XRP (XRP) failed to extend its upside momentum on Friday, dropping by circa 0.50% to $1.42. The downside moves came as oil remained strong and global risk sentiment suffered due to a lack of progress in the US–Iran peace talks.
Oil Surge Weighs on XRP as Iran Talks Stall
XRP remained under pressure as oil prices extended gains for a fifth straight day, with
Brent crude rising above $105.50 a barrel amid stalled US–Iran de-escalation talks.
The macro impact spread across markets. US 10-year Treasury yields and the dollar index both headed for their first weekly gains in a month, while global equities tracked by MSCI’s All-Country World Index (ACWI) moved toward a weekly decline.
The lack of progress has kept the Strait of Hormuz effectively closed, disrupting global oil flows and raising supply concerns.
GraniteShares Delays 3x XRP ETFs Again
GraniteShares has delayed the launch of its 3x Long and 3x Short XRP ETFs from April 23 to May 7, marking the fifth postponement in three weeks.
The 3x Short XRP ETF would be the first regulated product allowing traders to short XRP with 3x leverage through a standard US brokerage account.
The delay follows earlier SEC pushback on similar products, including ProShares’ decision to withdraw its own 3x XRP ETF plans in December 2025. Another delay on May 7 could put the 2026 launch in doubt.
Bitwise Says XRP Could Benefit From New Crypto Cycle
Bitwise said a new crypto cycle is taking shape and that assets like XRP could be among the beneficiaries, ahead of CIO Matt Hougan’s scheduled appearance at XRP Las Vegas on April 30.
> A new crypto cycle is taking shape, and assets like XRP may be the ones to benefit.
>
> Hear why when @Matt_Hougan takes the stage at XRP Las Vegas on April 30 at 2 p.m.
The asset manager’s comments come as XRP remains a focus for institutional crypto products and conference-driven market narratives.
Bitwise has a commercial interest in broader crypto adoption through its digital asset investment products, making its XRP remarks notable but not independent of industry exposure.
Ripple’s Former CTO Dismisses XRP Government Conspiracy Claims
Ripple’s former CTO, David Schwartz, pushed back against recurring XRP community claims that the token is part of a secret government-backed financial plan.
> There is no conspiracy. There is no secret plan.
He added that, to his knowledge, there is no major government initiative involving XRP.
He urged investors to focus on confirmed Ripple partnerships and real XRP Ledger usage rather than rumors of undisclosed government deals.
