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In another daring move, crypto asset management giant Grayscale will launch the first U.S. XRP trust on Thursday. As per Fox Business report, Accredited investors will have direct exposure to XRP, the cryptocurrency behind Ripple's XRP Ledger, which facilitates cross-border payments, through this “closed-end” fund.
After shutting one down in 2021, Grayscale is launching a new XRP fund so investors can gain exposure to the cryptocurrency.
XRP went from under $0.54 to over $0.57 in minutes.
NEAR also jumped 5.0%, joining Ripple as a top performer.
On September 12, Grayscale Investments, the world's largest cryptoasset manager and a whole-owned subsidiary of Digital Currency Group (DCG), announced the launch of its latest crypto investment product, the Grayscale XRP Trust, designed to provide investors with exposure to XRP, the digital token that powers the XRP Ledger.
Data shared by “Ripple Stablecoin Tracker” account on the X platform, referring to Etherscan, shows that Ripple Labs blockchain heavyweight continues to issue new RLUSD stablecoins after the recent launch of the new asset.
Grayscale's launch of the first XRP trust in the US could pave the way for future ETF conversions, impacting accredited investor access and regulatory dynamics. The post Grayscale rolls out XRP trust in the US appeared first on Crypto Briefing.
Crypto whales' recent XRP purchases have renewed optimism for a price rise, even as the altcoin struggles with resistance levels.
Asset management firm Grayscale is set to launch the first US-based XRP trust, opening the door for a possible exchange-traded fund (ETF). The fund will offer eligible investors direct exposure to Ripple's native token.
The fund will offer investors exposure to XRP tokens.
Grayscale has published an intended four-phase product life cycle for its XRP trust, leaving open the possibility of an ETF at some point in the future.
A notable market analyst, Steph, has made headlines with a bold prediction for XRP, urging investors to buy before the cryptocurrency potentially high to $40. His latest analysis suggests that XRP is on the cusp of a major breakout, driven by favorable technical patterns and broader market trends.
A bold prediction that has captured the attention of the cryptocurrency community, leading market analyst Steph has advised investors to buy XRP now, anticipating a potential surge to $40. This forecast, shared via X (formerly Twitter), is supported by several bullish technical indicators and broader market conditions.
Ripple's focus on institutional and government-level use cases sets it apart from other blockchain projects, as the company prioritizes enterprise solutions over retail adoption.
The price of Ripple coin (XRP) is bearish as it continues to drift sideways below the moving average lines.
With less than four months left until 2024 is over, XRP (XRP) has not had a very stellar year so far, recording a 12.44% decline year-to-date (YTD) and failing to reach its new record price as it trades well below its 2018 all-time high (ATH) of $3.40, despite favorable court developments surrounding Ripple.
BTC is up 3.44%, while Ethereum (ETH) is up nearly 2%, inching toward the $2,400 mark. Other major gainers include Solana (SOL), Toncoin (TON), Ripple (XRP), and Dogecoin (DOGE).
Ripple's XRP has been experiencing a turbulent period, with its value dropping by 7% over the past two weeks. The cryptocurrency fell to a local low of around $0.50 but has since recovered slightly, currently trading at $0.54.
XRP price has struggled to maintain a stable rise above the 50% Fibonacci retracement line at $0.60. The altcoin has repeatedly failed to break above this level, now finding itself stuck beneath the 38.2% Fib line at $0.55.
XRP bulls faced a dramatic 3,750% liquidation spike, with long positions dominating the market imbalance. Despite hopes for a breakout, the token experienced a sharp price rejection, leading to further losses for investors.
XRP price is holding gains above the $0.5250 level. The price is now trading in a tight range and might soon attempt a move above the $0.550 resistance.
XRP slips during Trump-Harris debate; crypto community frustrated over lack of crypto discussion.
The trading volume of Shiba Inu has been exhibiting an ascending dynamic, which suggests a critical reversal. This spike in volume suggests a growing interest in the asset, potentially signaling a change in market sentiment based on data from recent price charts.
Ripple is actively promoting the XRP Ledger (XRPL) as the ideal blockchain for tokenizing real-world assets (RWA) on an institutional scale. Ripple emphasizes security, scalability, and interoperability, positioning itself as a dependable platform for decentralized finance (DeFi) and managing tokenized assets.
