XRP’s price fell over 4% to $0.5843 despite the positive Bitwise ETF filing news.
Ripple’s unlocking of 1 billion XRP tokens from escrow has raised investor concerns about increased supply, putting downward pressure on the price.
The price of XRP has slipped over 4% in the last 24 hours, despite a positive announcement regarding Bitwise Invest’s filing for an XRP exchange-traded fund (ETF) in Delaware. On Wednesday, October 2, the altcoin saw its value dip to $0.5843, following a Monday jump that closed at $0.6336. Compared to the broader crypto market, which saw a 4.52% decline, XRP displayed a smaller loss.
XRP Price Chart (Source: CMC)
Recent geopolitical unrest in the Middle East seems to have impacted the global crypto market. Including reports of an Iranian missile attack on Israel, conflicts in the region weighed heavily on market sentiment.
Adding to this pressure, Ripple unlocked 1 billion XRP tokens from escrow, sparking investor concerns about increased s
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