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🔥 Day 8 Hot Topic: XRP ETF Goes Live
REX-Osprey XRP ETF (XRPR) to Launch This Week! XRPR will be the first spot ETF tracking the performance of the world’s third-largest cryptocurrency, XRP, launched by REX-Osprey (also the team behind SSK). According to Bloomberg Senior ETF Analyst Eric Balchunas,
Ripple Investors Pay Attention to This Data: Price Indicator Reaches Record Level! - Coin Bulletin
Data that guides the price of Ripple (XRP) is closely monitored by analysts.
According to data shared by CryptoQuant analyst 'maartunn', XRP's Open Interest (OI) reached a record high of $1.8 billion, the highest level ever.
When this OI data increased during the recent period, an increase was also seen in the price. Conversely, a decrease in OI tends to result in a decrease in price.
Currently, there are several notable factors behind the ongoing increase. Here are the main factors that triggered this rise:
The analyst emphasized that changes in both the political and regulatory fronts could be decisive for the future of XRP. The price performance and investor interest in XRP could further increase with the influence of these dynamics.
Tokenized market fund from Ripple
Ripple announced the launch of a tokenized money market fund on the XRP Ledger. The innovation was reported to be realized through a collaboration between Ripple and digital asset exchange Archax.
Ripple's press release included the following statement: "Archax, the first digital asset exchange, broker, and custodian regulated by the FCA, provided access to a money market fund of the UK-based asset manager abrdn in tokenized form via the XRP Ledger.
The statement stated that the fund in question is part of abrdn's total $3.8 billion US dollar Liquidity Fund (Lux) and is recorded as the first tokenized currency market fund on the XRP Ledger.