This week, XRP entered a new era of institutional adoption with the launch of an ETF, which could drive greater interest in the cryptocurrency.
XRP ETF Launch on Toronto Stock Exchange
The 3iQ XRP ETF has been launched on the Toronto Stock Exchange, offering regulated access to XRP for investors. Managed by 3iQ Corp, a company backed by Ripple Labs, the ETF waived management fees for the first six months to appeal to investors across different categories.
XRP Prices: Support and Resistance
Currently, XRP is trading around $2.19, with support levels between $2.15 and $2.17, while resistance is seen in the $2.23 to $2.26 range. Stable trends are observed, but the absence of a breakout may lead to price consolidation.
Institutional Trends and Real-World Use Cases
According to Uphold's report, institutional infrastructure around XRP is forming. The launch of ETFs and futures contracts signals growing interest from institutional investors. XRP is becoming an active player in transactions, liquidity provision, and blockchain finance.
The launch of the XRP ETF on the Toronto Stock Exchange indicates that XRP is becoming a more accessible and regulated investment. This could be a significant milestone in XRP's path to mainstream adoption.
