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Bitwise Asset Management has rebranded its European XRP exchange-traded product to the Bitwise Physical XRP ETP (GXRP), with Ripple backing the initiative, enhancing its presence in Europe following the acquisition of ETC Group. The post Bitwise Rebrands XRP ETP with Ripple's Backing and Investment appeared first on Cryptonews.
Bitwise's XRP exchange-traded product (ETP) has undergone a rebranding, according to a Friday press release. It has now been renamed to the Bitwise Physical XRP ETP.
The XRP price has jumped higher today following an announcement that fintech firm Ripple plans to invest an unspecified amount in a newly rebranded Bitwise Physical XRP ETP (previously called the ETF Group Physical XRP).
XRP has bounced back after a recent pullback to the $1.25-$1.30 range, where it found strong support. The cryptocurrency is currently outperforming other major coins, signaling potential for future growth. XRP is currently up by more than seven percent in the last 24 hours and is trading near the $1.45 levels.
TL;DR Ripple has announced an investment in the rebranding of Bitwise Physical XRP ETP, which has boosted the price of XRP by 5.8%, reaching $1.45. The rise in XRP's value reflects the growing interest of institutional investors in exchange-traded products (ETPs) related to cryptocurrencies.
XRP price mirrors its 2017 rally as bullish patterns and rising institutional interest suggest a breakout toward $2 and beyond.
Blockchain firm Ripple is among the four founding members of the newly incorporated XRP Ledger (XRPL) Foundation. Established on Nov. 26 in France, the organization aims to unify and govern the broader XRPL ecosystem.
Ripple's XRP is under close scrutiny as it trades below $1.40, down over 5% in the last 24 hours. The cryptocurrency, which briefly rallied to $1.51 following news of SEC Chair Gary Gensler's resignation, has since reversed course.
Ripple backs Bitwise's rebranded XRP ETP, now called Bitwise Physical XRP ETP, to strengthen its presence in the European market.
XRP is currently consolidating after a sharp 20% retrace from its recent local high of $1.63, set last Saturday. Despite the pullback, XRP remains a strong contender in the market as it holds firm above critical demand levels, showcasing resilience amid broader market volatility.
XRP has recorded a massive uptick in the ongoing bullish run on the broader cryptocurrency market. Positive market sentiment has resurfaced, pushing XRP to breach three resistance levels of $1.20, $1.30 and $1.40.
Ripple will invest $5 million in tokens from Abrdn's Lux fund. This is part of a larger investment strategy by Ripple to support the tokenization of real-world assets on the XRP Ledger. The post Archax, Ripple Launch First Tokenized Money Market Fund on XRP Ledger appeared first on Cryptonews.
Ripple Labs has significantly improved the XRPL (XRP) ecosystem over the years, despite the legal hurdles in the United States. The blockchain payment company holds the largest share of XRP, through the escrow account, whereby the firm receives 1 billion units at the beginning of each month.
Ripple's investment in Bitwise's XRP ETP could boost crypto ETP demand, highlighting XRP's growing role in institutional finance. The post Ripple backs Bitwise Physical XRP ETP following its rebranding appeared first on Crypto Briefing.
In a latest development today, Bitwise Asset Management has announced that it has renamed its European XRP exchange-traded product as part of a broader rebranding of its European product suite.
Ripple's $25M pledge to Fairshake PAC boosts its efforts to influence crypto policy amid legal challenges with the SEC.
The announcement arrives as the "U.S. regulatory environment for crypto [is] finally becoming more clear," said Ripple CEO Brad Garlinghouse.
Story Highlights The Ripple price stabilizes above the $1.4 mark, indicating strong support. The technical indicators record increased volatility and eyes to retest higher price targets. A potential reversal could push the price toward the $2 mark this year. The XRP token has maintained its value above the psychological barrier of $1.4 this week.
In a political context where every dollar can influence the fate of a nation, Ripple, a giant in the blockchain field, has made a bold decision.
With crypto continuing to climb higher, three cryptocurrencies from the past are making a lot of the running. Can Ripple ($XRP), Cardano ($ADA), and Stellar ($XLM) continue their wild rides?
A pro-XRP lawyer lambasted SEC Chair Gary Gensler for not being fair with all cryptocurrency platforms, accusing Gensler of favoring some entities. The Securities and Exchange Commission official was scrutinized as his critics discovered that he had private meetings with the founder of an offshore crypto exchange.
Bitwise Asset Management has announced the rebranding of its European XRP ETP (exchange-traded product). This is part of its broader strategy to strengthen its foothold in the crypto investment space.
Fairshake, which raised over $200 million in 2024 to become the most influential PAC of that election, is now setting its sights on 2026.
Bitwise said that it's planning to rebrand its entire European ETP portfolio as it expands its operations in Europe.
