The launch of the first US-based ETF linked to XRP has triggered a significant price increase and market activity.
Launch of XRP ETF
ProShares has launched the first US-based ETF related to the cryptocurrency XRP, marking a new phase in crypto derivatives. So far, Ripple CEO Brad Garlinghouse and CTO David Schwartz have not commented on this important milestone.
Price Surge and Market Capitalization
After the ETF launch, XRP's market capitalization surged from $185 billion to over $215 billion. Trading volumes exceeded $23 billion. Institutional investment activity has also increased, indicating heightened interest in XRP following the ETF approval.
Outlook and Impact on Crypto Market
The approval of the XRP ETF has led to increased trading activity and could influence other cryptocurrencies. While Bitcoin has stabilized below $120,000, SHIB shows no immediate surge. Analysts believe that the current upward trend for XRP may continue due to institutional demand and favorable market conditions.
The launch of the XRP ETF opens new avenues for the crypto market and could drive further interest from both institutional and retail investors.
