XRP ETF Gains Traction Amid Price Dip
XRP has seen a slight dip recently, falling to $3 and down 19% from its yearly high. Despite this setback, there’s strong interest in XRP assets.
The newly launched REX-Osprey XRPR ETF is attracting critically important attention. On its first day, it traded $37.7 million, the highest debut volume this year.By the second day, it still retained a respectable $15 million in trade volume. According to its website, the fund now holds over $10.9 million in assets, indicating robust investor demand even with an expense ratio of 0.75%.
Other XRP-related funds show similar trends. Teucrium’s XXRP and ProShares’ UXRP have seen asset increases of $430 million and $120 million respectively. CME XRP Futures saw open interest surpass $1 billion within weeks.
- Rising XRPR ETF inflows signal strong XRP demand.
- Expected SEC approval for more XRP ETFs in October increases optimism.
Analysts forecast that ETF approvals from Franklin Templeton, Invesco, Bitwise, and canary might come in October.Polymarket sees a 96% chance of approval. Technically, XRP appears set for a rebound, forming a bullish flag pattern. If confirmed,prices could surge to $4.2970, up 45% from current levels.
This bodes well for XRP, as it possibly benefits from increased institutional involvement and positive market sentiment.
