As the first XRP ETF hit the markets, prices have not gone according to the predictions of investors, sparking a wave of worry. XRP price hovers around the $1.81 mark as the hype around the XXRP ETF begins to wane.
XRP Price In Steep Decline Following ETF Launch
According to CoinMarketCap data, XRP price has taken a major hit following the launch of the first-ever XRP ETF in the markets. XRP tumbled by nearly 5% over 24 hours to trade at $1.81 despite the hype around the launch of an XRP ETF.
Teucrium Investment Advisors rolled out its leveraged XRP ETF, offering investors double the exposure to XRP. The leveraged ETF, with the ticker XXRP, failed to force a rally for XRP with several theories swirling for the decline in XRP price.
Odd ETF Douses Market Enthusiasm
The nature of the XRP ETF contributes to its lukewarm market reaction on launch day. The leverage ETF rolled out without the SEC’s approval of a spot ETF leaving market participants scratching their heads.
Bloomberg market
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