Latest news with #SalGilbertie
Business Mayor
25-04-2025
- Business
- Business Mayor
XRP tops Bitcoin in ‘utility,' CEO declares – Here's why
XRP would have more use cases than BTC, per asset manager Teucrium's CEO. XRP Ledger activity slowed in 2025 and was yet to bounce back decisively. Teucrium CEO Sal Gilbertie championed Ripple's XRP as a better 'utility' play than Bitcoin [BTC]. In a Bloomberg interview, he said, 'We believe XRP will have the most utility out there. Bitcoin is a store of value, but I think XRP has a true use case and Ripple will make this work.' This followed just days after the $345 million asset manager launched a 2x Long Daily XRP ETF (XXRP). According to Bloomberg ETF analyst Eric Balchunas, the product defied weak market conditions and posted massive inflows. It hit $40 million in net assets and is the first leveraged U.S. XRP ETF. Exploring XRP's utility play That said, Gilbertie's statement mirrored an outlook by Standard Chartered earlier this month. StanChart's head of digital assets, Geoff Kendricks, projected that XRP could explode 600% to $12.5 in the next three years. Kendricks noted that XRP was 'uniquely positioned' for the cross-border payments use case. Ripple recently acquired Hidden Road, a prime broker, that would leverage XRP and its stablecoin, RLUSD, as part of its long-term vision in cross-border payment and trade settlements. But Kendricks' $12.5 XRP price target appeared conservative. According to Sistine Research, the altcoin could hit $33-$50 by 2027 — a potential 1500%-2500% price rally. The crypto research firm highlighted that XRP price action mirrored the breakout after the consolidation in 2014-2017. If completed, the pattern formation could send XRP above $30 in two years. That said, the XRP Ledger address activity slowed in 2025 and was yet to recover fully. Simply put, XRP's potential strong price recovery could be delayed unless the network traction gains momentum. On the daily price chart, XRP hit a new April high of $2.3 but stalled and retraced to a previous bearish bullish order block (OB) at $2.1. The rally could be extended in the short term if bulls defended the level as support and RSI stayed above the 50 mark. Otherwise, short sellers could drag it below $2 again.
Yahoo
24-04-2025
- Business
- Yahoo
CME Group to launch XRP Futures to expand crypto derivatives
CME Group, the largest derivatives exchange in the world, has announced plans to launch XRP futures on May 19, pending regulatory approval. This represents a significant addition to its crypto product line, given that both retail and institutional investors are witnessing and experiencing increasing interest in XRP and XRPL. Interest in XRP and its underlying ledger has steadily increased. These new futures will provide a capital-efficient way for investors to hedge and gain exposure." The new XRP futures contracts will also come in two sizes: a micro contract equivalent to 2,500 XRP and a 50,000 XRP contract. Both contracts will be cash-settled based on the CME CF XRP-Dollar Reference Rate to be calculated daily at 4:00 p.m., London time. This announcement follows CME's increased momentum in the crypto space. The exchange has averaged 198,000 contracts traded daily, or approximately $11.3 billion notional, a 141% increase compared to Q1 2024. Open interest increased 83% to $21.8 billion, and there was $705 million in volume since launching SOL futures in March. Robinhood will also go live with CME's XRP futures, bringing them onto its rapidly growing futures platform. 'Retail access to diverse crypto futures is core to our mission,' said JB Mackenzie, VP at Robinhood, said. At the same time, Teucrium's CEO, Sal Gilbertie, highlighted the real-world use case of XRP, stating that the firm's leveraged XRP ETF saw $35 million in assets within 10 days — demonstrating the rallying investor demand for institutional-grade XRP exposure. Sign in to access your portfolio
Yahoo
24-04-2025
- Business
- Yahoo
Teucrium Launches ETF Linked to XRP
Teucrium CEO Sal Gilbertie discusses the Teucrium 2x Long Daily XRP ETF (ticker: XXRP), which aims to use swaps to offer twice the daily return of the XRP token. He speaks with Tim Stenovec and Katie Greifeld on "Bloomberg Crypto." Sign in to access your portfolio
Bloomberg
22-04-2025
- Business
- Bloomberg
Teucrium Launches ETF Linked to XRP
Bloomberg Crypto Show Teucrium CEO Sal Gilbertie discusses the Teucrium 2x Long Daily XRP ETF (ticker: XXRP), which aims to use swaps to offer twice the daily return of the XRP token. He speaks with Tim Stenovec and Katie Greifeld on "Bloomberg Crypto." (Source: Bloomberg)
Wall Street Journal
09-04-2025
- Business
- Wall Street Journal
Tariff-Fueled Volatility Draws Traders to First U.S. XRP ETF
The tariff-fueled market volatility has stalled stock-market debuts and delayed bond sales, but an exchange-traded-fund launch forged ahead on Tuesday. Asset manager Teucrium launched the Teucrium 2x Long Daily XRP ETF, which aims to double the daily return of the Ripple-linked token. On its first trading day, more than 215,000 shares of the fund, which trades under the ticker XXRP, changed hands. Sal Gilbertie, chief executive of Teucrium, said the leveraged fund is a short-term trading product that thrives in volatile markets. While he didn't plan on volatility, Tuesday's market swings have helped draw attention to the ETF, he said.
