In the wake of a recent market rally, XRP-based ETF volumes have surged to levels five times higher than usual. The success of the XRP token is drawing investor attention towards new products.
Surge in XRP ETF Volumes
According to Eric Balchunas, senior analyst at Bloomberg, XRP ETF volumes have increased four to five times compared to normal levels. The highest growth was seen in the newly launched 2x XXRP ETF, which rose 27% in the past 24 hours and finished the week with a 55% gain.
Performance of XRP Token
The XRP token exhibits a positive trajectory, being one of the year's top-performing altcoins. Over the past week, its price has increased by nearly 25%, resulting in a current year-to-date return of 19.48% at around $2.77. XRP remains highly resilient even as other major tokens like ETH and SOL experience losses.
Expectations for Spot XRP ETF Approval
Investors are awaiting approval for a spot XRP ETF from the SEC. The successful performance of futures products provides positive forecasts for the future market. However, expectations from the SEC remain unclear, as the regulator has yet to announce its decision on XRP ETF applications.
The surge in XRP ETF volumes and the positive performance of the token indicate growing investor interest. Expectations for the approval of a spot ETF remain a critical factor for the market's future.
