XRP rises 12% in 24 hours following ETF filings and possible capital inflows
Today, the price of XRP, the fourth-largest cryptocurrency, increased by 12%, surpassing the $2.55 level. This growth was driven by the fact that the Depository Trust & Clearing Corporation (DTCC) listed several applications for spot exchange-traded funds (ETFs) based on XRP.
Nate Geraci, co-founder of the ETF Institute and president of the ETF Store, stated that “the end of the U.S. government shutdown is equivalent to opening the floodgates for spot crypto ETFs. The first spot XRP ETF [under the Securities Act of 1933] could be launched as early as this week.”
At the same time, the American infrastructure company Depository Trust & Clearing Corporation, considered a cornerstone of financial markets, updated the information on its website.
It listed new spot XRP-based ETF products filed by investment firms Canary Capital, Bitwise, Franklin Templeton, and 21Shares.
Importantly, these products are described as being in the “pre-launch” stage and are not yet active.
Currently, XRP is trading 31% below its all-time high of $3.65, reached in July.
Unlike most other top-10 cryptocurrencies, XRP’s weekly performance remains positive at +6.5%.
See also: "Bitcoin Stability to Support Ethereum Growth in Q4"
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