XRP is in the spotlight owing to new ETF launches: this week saw the launch of Grayscale and Franklin Templeton XRP spot ETFs in the U.S. This follows the Canary and the Bitwise XRP products, bringing the tally of XRP ETFs in the U.S. to five, including REX Osprey ETF, with more launches anticipated in the coming days.
In particular, three XRP ETFs are expected to launch in the coming days. The next ETFs lined up for launch include 21Shares, CoinShares and WisdomTree, defining an XRP ETF season.
21Shares, CoinShares and WisdomTree up next, XRPETF season..
XRP Gaining exposure.. https://t.co/gMxgJSpclq pic.twitter.com/iJTfLTmr73
Celebrating Bitwise's ETF launch, Ripple CEO Brad Garlinghouse highlighted a "pre thanksgiving rush" for XRP ETFs.
The ETF launches move XRP from a standard crypto asset to a product now accessible through multiple institutional vehicles, which could clearly shift its narrative.
HOT Stories Morning Crypto Report: XRP Unlocks Apple and Google Pay in 40 Countries, Shiba Inu (SHIB) Aims at 32% Upside, Bitcoin Options Spike to $13.1 BillionCrypto Market Prediction: Can Bitcoin Break $90,000 on Recovery March? Shiba Inu (SHIB) Fresh Rally Starts, Is XRP Building Bullish Momentum?Coinbase's Armstrong Angers Bitcoin Maximalists by Praising Ethereum's ButerinShiba Inu (SHIB) Price to Remove Zero, XRP on Edge of 30% Breakout, Bitcoin (BTC) Prints Insane 36,380% Liquidation Imbalance – Crypto News Digest
In separate news, CME Group recently announced that its new Spot-Quoted XRP futures are arriving on Dec. 15, pending regulatory review.
XRP reserves declining
According to CryptoQuant, XRP reserves on major crypto exchange Binance are declining. CryptoQuant observed that since October, the exchange’s XRP reserves have been steadily decreasing, falling to 2.7 billion XRP, one of the lowest levels ever recorded on the crypto exchange. Looking more closely, over 300 million XRP have left Binance since Oct. 6.
The XRP supply's decrease might indicate that real demand is building, with investors withdrawing their XRP from Binance to hold it in private wallets.
Typically, when an asset is withdrawn from exchanges on a large scale, it often indicates an intention to hold for the long term. Fewer tokens available on trading platforms coupled with increasing institutional demand create a potentially powerful setup.
At press time, XRP was trading up 2.45% in the last 24 hours to $2.22 and up 16.42%. XRP is creating a potential bull flag setup in the short term, with its price in consolidation since Nov. 24, following three days of sharp increases since Nov. 21.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
