XRP Soars by 9% as Market Reacts to ETF Listing Signal
Digital asset Ripple—XRPUSD—soared on Monday by 9.10% at the time of writing, settling at $2.52 as investors reentered positions in anticipation of Exchange Trade Fund (ETF) listing.
The U.S. crypto market vibrated positively as the first spot XRP ETFs may launch next week, with the Depository Trust and Clearing Corporation (DTCC) listing five funds under its ‘active and pre-launch’ category.
Acting as a new catalyst, the listing on DTCC hints at imminent approval by the US Securities and Exchange Commission, driving its intraday price surge.
While the DTCC listing does not constitute regulatory approval, it demonstrates that issuers have completed critical operational preparations including custody arrangements, pricing mechanisms, and settlement infrastructure.
Trading data showed that XRP rose by 9.10% to $.2.52 with a trading volume of $6.08 billion over the last 24 hours. The market value of the digital asset also expanded to $1.52 billion.
21Shares files for XRP spot ETF with SEC, signalling institutional interest and potential market access expansion. Major firms are preparing to introduce XRP ETFs in the U.S., which is being priced in as a key regulatory breakthrough.
A slew of crypto analysts maintained that XRP shows potential for a bullish recovery, with increased institutional use and transaction volumes indicating a possible revaluation.
21Shares and Franklin Templeton actively pursue U.S.-listed XRP ETFs, boosting institutional interest and fostering optimism in the digital asset sector.
Recently, Ripple partnered with Mastercard to pilot a stablecoin for credit card settlement, showcasing innovative uses of RLUSD on XRPL.
Before the new momentum formed, XRPUSD had bottomed out at $2 as US government shutdown sent jittery across the crypto market amidst potential slowdown in Fed rate cut next month. UBA Grows Profit by 2.3% to N538bn, Bucks Negative Earnings Trend
