XRP and DOGE Rise Following SEC Recognition of ETF Filings, JUP Expresses Optimism Over Token Repurchase Plan

Altcoins Surge as Bitcoin Holds Steady Amid ETF Outflows

Alternative cryptocurrencies, or altcoins, made significant strides on Friday, with XRP and Dogecoin (DOGE) benefiting from optimism surrounding spot ETF filings, while Jupiter’s JUP token gained traction after the decentralized exchange revealed its token buyback plan.

The U.S. Securities and Exchange Commission (SEC) officially acknowledged Grayscale’s applications for XRP and DOGE spot ETFs, according to updates released on February 13. These filings are now set to move to the SEC’s federal register, triggering a 240-day review period for the commission to decide. This is part of a broader trend of filings for altcoin ETFs, including Solana (SOL) and Litecoin (LTC), which signals growing expectations for the mainstream adoption of cryptocurrencies under President Trump’s leadership.

Approval of the XRP and DOGE ETFs could significantly increase institutional access to these coins, allowing them to gain exposure without the need to directly buy and store the digital assets. This would likely increase liquidity and stimulate demand for these tokens.

XRP rose by 10% to $2.73 in the past 24 hours, making it the best-performing cryptocurrency among the top 100 by market cap. Meanwhile, DOGE saw a 4% increase, according to data from CoinDesk and CoinGecko.

“With the SEC now reviewing ETF applications for XRP and DOGE, in addition to other altcoins like Solana and Litecoin, the potential for institutional investors to gain exposure to these digital assets is growing,” said Valentin Fournier, analyst at BRN. “Approval of these products could add significant liquidity to the altcoin market, which may trigger an altcoin rally later this year.”

Fournier added that the positive regulatory developments and easing global trade tensions are contributing to the slight upward momentum in digital assets.

Jupiter’s JUP token also saw a 10% increase in value following the platform’s announcement that it would allocate 50% of its protocol fees toward repurchasing and locking JUP tokens for three years, starting February 17. This initiative is aimed at reducing the token’s circulating supply and ensuring long-term sustainability for the decentralized exchange.

Bitcoin (BTC), however, continued to trade relatively flat around $97,000, as the ongoing outflows from U.S.-listed spot ETFs weighed on its price action. Fariside Investors reported a cumulative $650 million net outflow from the 11 BTC spot ETFs listed in the U.S. this week.

Despite Bitcoin’s lackluster performance, market sentiment remains positive, especially following stronger-than-expected U.S. CPI and PPI figures earlier this week.

“Bitcoin’s stability in the face of high inflation and improving regulatory clarity positions it well for a potential rally,” said Fournier. “We continue to recommend a bullish stance on digital assets, with a focus on balancing exposure between BTC and ETH according to market trends.”