The XRP token is gaining popularity, reaching $3.22, amid lively discussions about the launch of its first ETF in the US. The success of this project could significantly reshape XRP's market position.
XRP Growth and Resistance
XRP began to rise after breaking the resistance level of $2.60, which had persisted for several months. This led to attracting new investments and opening positions in the market, which, according to standard metrics, caused token overheating.
Implications of Possible XRP ETF
Rumors about the launch of an ETF by ProShares, which may be presented on July 18, are fueling interest in XRP. Confirmation of the fund's launch will have a significant impact on institutional investments in the token and show that XRP, despite regulatory problems, is becoming part of ordinary investment products.
Regulatory Changes and Market Impact
Recently, lawmakers in Washington passed two important bills regarding cryptocurrencies that are meant to clarify the rules for digital assets. Despite potential procedural hurdles for the ETF, the shift in perception about XRP as a more legitimate asset is already influencing its value.
XRP is on the verge of updating its historical high, and the possible launch of an ETF could be a key moment for the token in the market. Steps taken in regulation may also contribute to increasing interest from institutional investors.
