XRP Price Rises 2.7% to $2.42 Following New Futures ETF Launch
XRP price increased by 2.7% to $2.42, with daily trading volumes up by 45% to $4.33, following the launch of the CME XRP futures ETF. Later today, Volatility Shares will debut its own XRP futures ETF on Nasdaq, enhancing market sentiment.
Key Points
- XRP has underperformed compared to other cryptocurrencies, gaining only 15% in the last month while others like Ethereum and Solana saw gains of 40-60%.
- A whale purchased nearly 250 million XRP tokens valued at over $500 million, but this did not impact the price as expected.
- The CME XRP futures ETF recorded Day-1 trading volumes of $1.5 million, indicating high institutional interest in XRP.
- Analysts have set XRP price targets as high as $27 based on technical analysis.
- The Volatility Shares XRP Futures ETF will invest at least 80% of its net asset value in XRP-linked instruments, with plans for a leveraged 2x XRP Futures ETF.
- There is an 83% probability that a spot XRP ETF will receive regulatory approval this year, according to predictions on Polymarket.
Solaxy ($SOLX) Developments
While XRP dominates discussions, Solaxy ($SOLX) is gaining traction as a Layer 2 solution for Solana, addressing issues of network congestion and scalability.
Presale Highlights
- Token Price: $0.001732
- Funds Raised: $39 million
- Payment Methods: Crypto, Card
- Ticker: SOLX
- Chain: Solana
Solaxy’s presale reflects strong investor interest, having raised $39 million with over 11 billion tokens staked so far.