XRP News Today: XRP ETFs Offer Long-Term Optimism Amid Intensifying Short-Term Downtrend
- XRP price fell below $2 despite new spot ETFs, with open interest hitting November 2024 lows amid crypto outflows and bearish sentiment. - Bitwise and 21Shares launched XRP ETFs, but $22M first-day volume failed to offset 7% price drop and whale-driven selling of 200M tokens. - SEC approvals enabled ETFs from Franklin Templeton/Grayscale, yet derivatives data shows $473M Binance open interest decline and negative funding rates. - Analysts note ETFs could attract institutional capital long-term, but short
The
Bitwise and 21Shares have joined other companies in rolling out spot XRP ETFs in the United States, with Bitwise’s fund
After a lengthy period of regulatory uncertainty,
From a technical perspective, XRP has not managed to recover crucial support levels, with its price
Ripple’s investments in infrastructure and its $1 billion treasury initiative have sparked some optimism, but these moves have not yet counteracted the immediate selling pressure.
Although the short-term outlook is still unclear, some market watchers think the ETFs could set the stage for future capital inflows. "
At present, XRP traders are navigating a challenging environment, balancing short-term bearish trends with the potential for longer-term growth. With open interest at multi-year lows and funding rates in negative territory, the market is preparing for either continued consolidation or a significant move.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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