Investors are showing increased interest in XRP as the ProShares ETF launch approaches, scheduled for July 18.
Rising Interest in XRP Before ETF Launch
Interest in XRP is rapidly increasing as investors prepare for the official launch of the ProShares XRP Futures ETF, set for July 18. Over the past year, the cryptocurrency has seen a strong rally of over 445%, despite a recent slight drop of 2.7% in the last 24 hours.
ETF Approval and Its Impact on the Market
NYSE Arca has approved two new ETFs from ProShares: the Ultra XRP ETF and Ultra Solana ETF. These leveraged products are designed to deliver enhanced performance of their underlying assets. The approval provides additional momentum for institutional interest in XRP and indicates increasing regulatory acceptance of crypto instruments.
Historical Data and Current Market Situation
XRP has shown significant gains during periods of low public interest. For instance, the token increased by 44.5% during Q3 2022 and by 58.8% in early 2023. While interest in XRP is rising, historical data suggests that the most significant returns occurred when public interest was low.
The rising interest in XRP and the approval of ETFs bring the token back into focus. However, historical trends indicate that the most significant returns occur during periods of low interest.
