Latest news with #XXRP
CNBC
30-07-2025
- Business
- CNBC
Why it appears Washington is becoming friendlier toward crypto ETFs under Trump
Attitudes on Capitol Hill toward exchange-traded funds and cryptocurrency may be changing. Teucrium CEO and CIO Sal Gilbertie told CNBC's "ETF Edge" regulators are becoming "more friendly" under President Donald Trump versus the Biden administration. "It's a completely different environment in Washington right now," Gilbertie said on Monday. "It's more welcoming towards innovation — especially in crypto… and that's a relief for us." Gilbertie's firm oversees the Teucrium 2x Long Daily XRP ETF (XXRP), which aims to return double the daily performance of the cryptocurrency XRP, according to the fund's website. As of Tuesday's close, the ETF is up 96% since its April 7 launch. Gilbertie said Teucrium's role in pitching funds has not changed, but the reception from regulators has. "The steps that we take to list the fund are the same, but there's no animosity anymore," Gilbertie said. "We're not feeling like they're antagonistic, that they're looking for a problem, that they're looking to actually go against whatever it is you're trying to do." With discussion of regulating newer market players, like ETFs and crypto, Gilbertie said investors need to be savvy and "understand what they're owning" as new products enter the playing field. "The U.S. markets are the safest markets in the world for a reason, because we have tight and very thorough regulations," he said. "But I think investors always need to be learning." The Teucrium 2x Long Daily XRP ETF is geared toward investors with a high risk tolerance. In a news release this month, the firm noted the ETF "carries distinct risks" due to its use of leverage and warned it may not be suitable for all investors. Investment Company Institute CEO Eric Pan is also encouraged by what he sees in Washington — particularly when it comes to the Securities and Exchange Commission engaging with industry players. He thinks cryptocurrency regulation discussions are in the early stages. "They're [regulators] very interested in hearing the views of groups like mine at the ICI. They want to talk to member firms. They want to understand what they're seeing in the marketplace," said Pan in the same interview, adding that this is a "really positive step." The process of rolling out crypto-related ETF products is not much different from ETFs containing traditional stocks, bonds and commodities, Pan said. In both cases, he said regulatory certainty is important to mitigate risk for firms and investors, but he also wants to see room for innovation. "We like the idea that, through competition, firms [and] our members can come up with new products, try them out, see if there's an interest in them," Pan said. "That's really what we've been advocating for, both on Capitol Hill and with the SEC." The excitement comes just weeks after President Trump signed the GENIUS Act, a law regulating stablecoins. Stablecoins are a type of cryptocurrency that's pegged to a fiat currency, like the U.S. dollar. The legislation marks a major legislative win for cryptocurrency and furthers Trump's goal to make the U.S. the "crypto capital of the world."
Time of India
15-07-2025
- Business
- Time of India
XRP warning: Price drops 3.2% today—can surging ETF demand still push it to $4.50? Here's the full price projection
XRP price drops below $2.91—can bullish ETF momentum still drive it to $4.50 soon? XRP price prediction : Can XRP reach $4.50 as Teucrium ETF crosses $284M? XRP is back under the microscope as the price flirts with the $3 mark once again. After briefly surging above $3 on July 14—for the first time since March—the token has since corrected and is trading at $2.91 as of 1:17 p.m. UTC on July 15, down 1.60% on the day. Even with the dip, momentum remains in favor of the bulls, thanks to strong institutional demand, a bullish crossover on key moving averages, and a breakout in the XRP/ETH ratio. Investors are now watching closely to see if XRP can push to $4.50, a level supported by recent technical signals and ETF inflows. Why did XRP price drop 3.2% today below $2.91? XRP price slipped by 3.2% today, falling below the key $2.91 level and currently hovering around $2.87. This drop comes after XRP briefly crossed $3 for the first time since March, following a strong seven-day rally from $2.24. The pullback is largely attributed to broader market weakness and short-term profit-taking. Despite the dip, technical indicators like the 50-day and 150-day SMA convergence suggest the bullish trend isn't over yet. Analysts believe this drop could be temporary, especially with institutional demand rising through the XXRP ETF, which has now crossed $284 million in assets. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals Undo What is supporting the XRP price prediction of $4.50? Despite today's minor pullback, XRP still holds a bullish outlook on multiple fronts. The most important technical signal comes from the bullish convergence between the 50-day and 150-day simple moving averages (SMAs)—a classic sign that an uptrend could soon resume. This trend is supported by the Directional Movement Index (DMI), which shows the positive DI rising while the negative DI drops, meaning buyers are still in control. The Average Directional Index (ADX) is also sloping upward, confirming the strength of the trend that recently pushed XRP from $2.24 to $3 in just seven days. Live Events For the bullish case to hold, however, XRP must break through the resistance zone between $3.05 and $3.16. Without a close above that area, buying pressure could stall in the short term. Why is the XRP/ETH ratio breakout important? Another key factor behind XRP's current momentum is the XRP/ETH ratio, which recently broke out of a two-month consolidation range, according to chart data from TradingView. When this ratio climbs, it shows XRP is outperforming Ethereum—an important signal for market strength. This move comes alongside increasing interest from institutional investors. The Teucrium XXRP ETF, launched just four months ago, has now amassed over $284 million in assets under management. That kind of capital flow is significant, as it reflects large-scale investor confidence. Additionally, XRP futures trading on the CME saw a $1.3 million increase in volume last week, showing continued appetite for exposure from professional traders and institutions. These developments suggest that the market may be entering a new phase where institutional inflows and outperforming ratios could keep XRP bullish longer than previously expected. What is the short-term outlook for XRP price? In the short term, XRP remains bullish , but only if it can hold key support levels and break past resistance. Short-term bullish scenario: Support holds above $2.75, and XRP breaks above $3.16, triggering technical buying. Momentum continues as ETF demand drives interest. Price pushes toward $4.50, the 161.8% Fibonacci extension. Short-term bearish scenario: XRP fails to close above $3.16 and falls back below $2.75. Institutional buying slows, and broader crypto market remains uncertain. Price revisits $2.50 or even lower to $2.24 support zone. At the moment, the bullish technicals outweigh bearish risks, but caution remains if volume dries up or Bitcoin faces more downward pressure. How does the long-term XRP forecast look? Long-term bullish outlook: The seven-year breakout pattern, first highlighted by CoinGape, remains intact. If historical trends play out, XRP could climb toward $10 or even $38, though that would require sustained institutional inflows, favorable regulation, and broader crypto adoption. ETF growth like Teucrium's $284M milestone, and CME volume surges, indicate long-term interest is forming. Long-term bearish risks: Legal or regulatory challenges, particularly around Ripple's ongoing SEC issues, could dampen investor sentiment. Failure to sustain above key macro resistance levels may keep XRP in a long-term range. If Ethereum or Bitcoin regain dominance and outpace XRP, relative underperformance could return. Can XRP hit $4.50 soon? Right now, XRP's price sits just under a key breakout level, and the charts are flashing bullish signals—SMA convergence, ADX strength, and a rising XRP/ETH ratio. The Teucrium ETF's $284M AUM and increased CME volumes show institutional players are clearly interested. The next major test is whether XRP can close above $3.16. If that happens, the path to $4.50 becomes much more realistic. But like all crypto assets, XRP's journey will depend on both internal strength and the broader market conditions. Traders and long-term holders alike will be watching closely. FAQs: Q1: Why did XRP price drop by 3.2% today? XRP dropped due to profit-taking and broader market weakness after briefly crossing $3. Q2: What is the current XRP price today? As of now, XRP is trading around $2.87 after falling below the $2.91 mark.
Yahoo
29-04-2025
- Business
- Yahoo
ProShares: No New XRP ETFs on April 30 Despite Reports
Despite reports that ProShares is planning to launch three exchange-traded funds tracking the prices of XRP-based futures on April 30, the company confirmed to that's not happening—yet. On Monday, a ProShares spokesperson told the firm 'does not have any ETF launches scheduled for Wednesday, April 30. We have no further news to share at this time.' This follows an SEC filing from January 17, which included details about an Ultra XRP ETF seeking 2x leverage, a Short XRP ETF seeking -1x leverage and an UltraShort XRP ETF seeking -2x leverage, and an April 15 post-effective amendment. However, Bloomberg ETF Analyst James Seyffart wrote in an X post on Monday, 'We don't have a confirmed launch date yet but we believe they will launch—and likely launch in the short or possibly medium term. ProShares did not respond to request on Tuesday morning for further clarification on the timing of the launch. The back-and-forth comes after the Teucrium 2x Long Daily XRP ETF (XXRP), another leveraged ETF tracking the price of the Ripple digital currency, launched on April 8, before approval for a spot XRP ETF. Eric Balchunas, senior ETF analyst for Bloomberg, wrote in an X post just before XXRP's launch that it was 'very odd (maybe a first) that a new asset's first ETF is leveraged.' XXRP uses swaps, not CME futures, to obtain leverage, Bryan Armour, director of ETF and passive strategies research for North America at Morningstar, told 'Daily leveraged ETFs are notoriously poor performing in the long run, on average,' Armour said. 'Investors should be wary of the risks posed by these ETFs.'Permalink | © Copyright 2025 All rights reserved Sign in to access your portfolio
Yahoo
16-04-2025
- Business
- Yahoo
Two Key Factors Position XRP Favorably for SEC Spot ETF Approval, Analysts Say
Analysts at Kaiko have identified key factors that position XRP ahead of other cryptocurrencies for potential spot ETF approval by the U.S. Securities and Exchange Commission (SEC). With the SEC required to respond to Grayscale's spot XRP ETF filing by May 22, the anticipation is building. Kaiko's report highlights XRP's superior market liquidity, noting that it has the highest average altcoin market depth on major centralized exchanges. This high liquidity indicates a stable market environment, which is viewed favorably by the SEC. XRP currently leads in active ETF applications, boasting 10 filings, compared to five for Solana and three each for Litecoin and Dogecoin. Additionally, the recent launch of Teucrium's leveraged XRP ETF, designated XXRP, adds another layer of complexity. This product aims to provide twice the daily return of XRP through derivatives and has emerged as the first leveraged XRP ETF in the United States. However, a traditional spot XRP ETF has yet to receive SEC approval. Despite these developments, demand for spot XRP ETFs remains uncertain. Analysts have noted that the market for Ethereum ETFs has seen limited traction, and many institutional investors still favor Bitcoin. The options market for XRP has shown bearish sentiment, reflecting broader market uncertainty rather than specific concerns about ETF approval. Other cryptocurrencies, such as Litecoin and Solana, are also in contention for ETF approval. Litecoin is viewed as a strong candidate due to its similarities to commodities. Furthermore, Canada is preparing to launch spot Solana ETFs, often preceding similar approvals in the U.S. As the SEC deliberates its long-term crypto regulatory strategy, the upcoming deadline for Grayscale's filing may provide clarity on XRP's potential as a frontrunner in the ETF race. Sign in to access your portfolio
Yahoo
11-04-2025
- Business
- Yahoo
XRP address count hits record high as new ETF debuts
The number of XRP addresses has hit a record high amid the recent turmoil in the crypto market in the aftermath of President Donald Trump's tariff war. Even as XRP is struggling to reclaim the price level of $2, addresses holding at least 1 token have hit a record high of 6.26 million, crypto analyst Ali Martinez noted on X (formerly Twitter). The accumulation suggests that traders are convinced of the potential value appreciation in XRP in the long run even as the market remains extremely volatile. There is another piece of positive news for the XRP community. The first-ever XRP exchange-traded fund (ETF) debuted in the U.S. on Apr. 8. A crypto ETF is traded on stock exchanges and gives investors exposure to cryptocurrencies without the need for them to directly own or trade the underlying assets themselves. Launched by Vermont-based Teucrium Investment Advisors, the Teucrium 2x Long Daily XRP ETF (XXRP) gives a 2 times leveraged exposure to XRP by using swap agreements. On its first day on the NYSE Arca, XXRP recorded a trading volume of $5.43 million. Senior ETF analyst Eric Balchunas called the fund's performance 'very respectable,' given the market conditions. He put it among the top 5% of new ETF launches. Note that XRP is expected to be included in the U.S. crypto stockpile as perTrump's executive order. Ripple's years-long legal case with the federal securities regulator is nearly over. However, XRP has failed to reclaim the price level of $2 over the past two days. The token was trading at $1.79 at press time, as per Kraken's price feeds. Sign in to access your portfolio
