XRP, the payments-focused cryptocurrency, has recently experienced a significant price surge, exceeding the Market capitalization of Solana and Tether. It reached $2.81 on Monday, later stabilizing at $2.68, marking a remarkable 424% increase in just 30 days. Currently, XRP’s Market cap stands at $152.5 billion, making it the third-largest crypto asset. In exciting news, WisdomTree has filed for a spot XRP ETF in Delaware, increasing investor interest. Coinbase has been named as the fund’s custodian. This development comes alongside another filing by 21Shares for the 21Shares Core XRP Trust. XRP previously hit an all-time high of $3.40 in January 2018, showcasing its potential for future growth.
Payments-focused cryptocurrency XRP has recently made headlines with a significant price increase, overtaking Solana and Tether in Market capitalization. XRP reached a peak of $2.81 early on Monday, though it has settled back to around $2.68. This represents an impressive 424% gain over the past month.
Currently, XRP boasts a Market cap of $152.5 billion and a fully diluted valuation of $257.4 billion, placing it firmly as the third-largest cryptocurrency. The surge in XRP’s value comes on the back of exciting developments in the ETF space. Reports emerged last week that WisdomTree, a leading global asset manager, filed a proposal for a spot XRP ETF in Delaware. Official filings with the SEC have since confirmed this, aiming to provide investors exposure to XRP through the issuance of shares on the Cboe BZX Exchange. Notably, Coinbase has been named as the custodian for the fund.
Earlier in November, another asset manager, 21Shares, also filed for an XRP-related product called the 21Shares Core XRP Trust, which looks to track the price of XRP passively. With these developments, XRP finds itself at the center of investor interest, especially with its all-time high of $3.40 still fresh in memory.
This moment in the crypto Market is one that many will be watching closely, as the potential approval of these ETFs could have significant implications for XRP and its valuation moving forward. Stay informed with the latest news and updates on XRP and the broader cryptocurrency landscape.
What is XRP?
XRP is a digital currency created by Ripple that helps banks and financial institutions move money quickly and efficiently across borders.
Why is XRP’s price rising?
XRP’s price is going up because of increased interest from investors and news about potential exchange-traded funds (ETFs) that could help it gain wider acceptance.
What is a WisdomTree ETF?
A WisdomTree ETF is a type of investment fund that tracks the performance of a specific set of assets, and in this case, it might include XRP and other cryptocurrencies.
How does an ETF help cryptocurrencies like XRP?
An ETF makes it easier for people to invest in cryptocurrencies because they can buy shares of the fund instead of buying the crypto directly, which can attract more investors.
Is XRP a good investment right now?
Whether XRP is a good investment depends on your risk tolerance and Market conditions. It’s always a good idea to do thorough research and consider getting advice from a financial expert.
