XRP reaches 2.6 billion USD open interest: XRP has achieved a record high open interest in the context of a rapidly changing market. Open interest hit 2.6 billion USD, reflecting increased investor attention. This is largely due to speculations around potentially launching an XRP ETF and new developments from the SEC.
XRP price rises despite Bitcoin’s decline: While Bitcoin faces challenges, XRP maintains its upward trend, rising 7% compared to many other altcoins. The price hit 1.52 USD, with a 180% increase in just one month. This demonstrates investor confidence in XRP, especially as regulatory conditions show positive signs.
Proposal for XRP ETFs: Several companies, including Bitwise and Canary Capital, have proposed spot ETFs related to XRP. These moves indicate increasing demand from large institutional investors for this asset, which could pave the way for new developments in the market.
Expectations from SEC leadership change: The expected departure of Gary Gensler from the SEC Chair position in January 2025 is seen as a positive factor by investors. A leadership change at the SEC could bring more favorable regulatory conditions for cryptocurrencies, including XRP, boosting confidence and value in the future.
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