- XRP’s $9 billion open interest signals strong bullish momentum ahead.
- Grayscale’s new ETF boosts XRP’s exposure to institutional investors.
- REX-Osprey launches XRP ETF, marking milestone for regulated investments.
XRP has experienced a strong surge recently, climbing from a low of $2.76 to reclaim the $3 price level. The growing optimism surrounding the XRP signals potential for further growth. XRP’s open interest has increased significantly, now reaching $9.05 billion, reflecting investor confidence in its future performance.
According to CoinGlass data, XRP’s open interest has surged by 6.54% in just 24 hours. This increase represents 2.92 billion XRP in futures contracts, which is additional evidence of the increasing demand. The market seems to have a lot of confidence in XRP’s potential as more traders position themselves to oppose a downward trend.
At the time of writing, XRP is at $3.10, an increase of 3.2% within 24 hours. Nonetheless, it is still 19.02% lower than the overall high of $3.84, indicating room for growth in the future. The trading volume has also surged, jumping by 62.37% to $7.38 billion, further supporting the bullish trend. Market observers believe this could set the stage for a new ATH, fueled by strong investor sentiment.
Also Read: Big News: First U.S. Spot XRP and DOGE ETF by Rex-Osprey Officially Launches: Details
Institutional Support Strengthens XRP’s Market Position
XRP’s bullish trend is further supported by growing institutional interest. Grayscale has introduced a multi-token exchange-traded fund (ETF) that includes Bitcoin, Ethereum, and XRP. This development provides traditional investors with an easy route to gain exposure to XRP within regulated frameworks.
Ripple Labs, the parent company behind XRP, continues to make strides in the crypto space. Its recent partnership with Franklin Templeton and DBS is set to strengthen XRP’s role in the emerging tokenization of real-world assets. These collaborations indicate Ripple’s ongoing efforts to expand XRP’s institutional adoption.
With the increase in open interest and institutional support, XRP is well-positioned to continue its upward trajectory. The combination of retail and institutional interest provides a solid foundation for potential future gains.
Landmark Development as XRP Joins U.S.-Listed ETFs
In a landmark development, REX-Osprey™, a collaboration between REX Shares and Osprey Funds, has launched U.S.-listed ETFs offering direct spot exposure to both Dogecoin (DOGE) and XRP. Trading under tickers DOJE and XRPR on the Cboe exchange, this move brings two of the most prominent cryptocurrencies into regulated investment vehicles. The new products are expected to attract traditional investors, providing easier access to XRP within the conventional financial system.
Also Read: 16,483,919 XRP Moves to Coinbase – Here’s What is Happening?
