Here’s Why XRP ETF Rollouts Signal Interesting Week Ahead
The post Here’s Why XRP ETF Rollouts Signal Interesting Week Ahead appeared on BitcoinEthereumNews.com. Brazil just beat the U.S at launching the first XRP ETF and more could be on the way soon. But just how much could this development impact XRP price action in the next 7 days? Analysts and the market at large have been waiting for an XRP ETF especially after the end of Ripple’s legal woes with the SEC. Well, the first spot XRP ETF has finally been launched in Brazil contrary to expectations that it would be rolled out in the U.S Especially with the latter’s aggressive push to be the leading market for crypto adoption. Preliminary information revealed that the new XRP ETF would be launched with the ticker XRPH11 and will be available on the B3 stock exchange in Brazil. Source: X This was an exciting move for XRP because it marked the start of more such announcements to come. In fact, the next XRP ETF launch could be days away. This is because Proshares Trust is reportedly slated to launch an XRP ETF on 30 April. Source: X Will the XRP ETF News Trigger a Demand Wave? Excitement around Bitcoin and Ethereum ETFs historically demonstrated some positive impact on their price action. Especially the days before the ETFs were launched. However, that does not appear to be the case with XRP. XRP price action last week was limited and it managed to conclude the week with a 5.58% upside. A significantly lower performance compared to most of the coins in the top 10 list. Nevertheless, XRP did manage to hold on to a 34.78% premium from its lowest price point in April, at its $2.19 press time price tag. XRP price action/ source: TradingView But despite its recovery in the last 2 weeks, it still had significant room for extended upside before entering overbought territory. Its…
The post Here’s Why XRP ETF Rollouts Signal Interesting Week Ahead appeared on BitcoinEthereumNews.com.
Brazil just beat the U.S at launching the first XRP ETF and more could be on the way soon. But just how much could this development impact XRP price action in the next 7 days? Analysts and the market at large have been waiting for an XRP ETF especially after the end of Ripple’s legal woes with the SEC. Well, the first spot XRP ETF has finally been launched in Brazil contrary to expectations that it would be rolled out in the U.S Especially with the latter’s aggressive push to be the leading market for crypto adoption. Preliminary information revealed that the new XRP ETF would be launched with the ticker XRPH11 and will be available on the B3 stock exchange in Brazil. Source: X This was an exciting move for XRP because it marked the start of more such announcements to come. In fact, the next XRP ETF launch could be days away. This is because Proshares Trust is reportedly slated to launch an XRP ETF on 30 April. Source: X Will the XRP ETF News Trigger a Demand Wave? Excitement around Bitcoin and Ethereum ETFs historically demonstrated some positive impact on their price action. Especially the days before the ETFs were launched. However, that does not appear to be the case with XRP. XRP price action last week was limited and it managed to conclude the week with a 5.58% upside. A significantly lower performance compared to most of the coins in the top 10 list. Nevertheless, XRP did manage to hold on to a 34.78% premium from its lowest price point in April, at its $2.19 press time price tag. XRP price action/ source: TradingView But despite its recovery in the last 2 weeks, it still had significant room for extended upside before entering overbought territory. Its…
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