In light of the improving cryptocurrency market, analyst Oscar Ramos has emphasized the need for prioritizing XRP allocation. His recommendations come amidst positive shifts in Bitcoin prices and growing interest in XRP.
Recommendation for XRP by Oscar Ramos
Analyst Oscar Ramos has issued a warning about the need to prioritize XRP allocation. In his assessment, XRP is becoming a vital asset for cryptocurrency portfolios. This recommendation is based on upward market trends, where Bitcoin has set new highs above $112,000, facilitating growth in alternative cryptocurrencies, including XRP.
Launch of XRP ETFs and Institutional Investments
July has been a crucial month for XRP ETF development, with multiple futures-based products scheduled for launch. ProShares announced the launch of three XRP futures ETFs by July 14, providing institutional investors with the opportunity to invest in XRP index with leveraged exposure. Moreover, on July 21, Turtle Capital will introduce its 2X Long XRP ETF, while Volatility Shares will release two additional XRP ETFs. These developments create new opportunities for institutional investors, despite the SEC's considerations regarding over 10 spot ETF applications.
Analysis of Whale Accumulation for XRP
Data from Santiment reveals that whale accumulation of XRP is nearing record levels, with 2,742 wallets holding over a million tokens. This figure is just one short of the previous record of 2,743, indicating strong confidence among major investors. These wallets collectively control 47.32 billion tokens, creating concentrated ownership among significant players.
The recent initiatives and analyst recommendations underline the growing interest in XRP amidst bullish market conditions. The combination of institutional investments, new financial instruments, and whale accumulation opens promising prospects for the future of this cryptocurrency.
