Monero’s XMR Surges 40% While XRP Gains 4% Amid ETF Approval
The crypto market remains stable, with Bitcoin trading above $94,000 and the CoinDesk 20 index showing little change. Key points include:
- XRP rose 4% due to the approval of three ProShares ETFs launching on April 30.
- Other cryptocurrencies like Cardano, BNB, and Ethereum saw gains between 1-3%.
- Monero surged over 40%, trading above $320, its highest since May 2021.
- Trading volumes increased from an average of $50 million to over $220 million in the last 24 hours.
- Analysts note no clear catalyst for Monero's rise, suggesting speculative trading may be involved.
- Market sentiment remains cautiously bullish amid macroeconomic uncertainties.
- Broader equity markets reflect mixed trends, with some indices advancing while others decline.
Bitcoin's stability is supported by favorable regulatory attitudes from the US government, potentially enabling growth in the crypto sector.