Valour XRP ETP Set To Begin Trading, Can Institutional Inflows Drive Price To $10?
24 November 2023 - 11:00PM
NEWSBTC
The XRP price may be gearing towards a bullish momentum with the
potential release of multiple ETPs and the anticipated launch of
Valour’s XRP ETP into the European markets next month. Valour
XRP ETP To Enter European Markets Valour, a publicly traded company
backed by DeFi Technologies, a crypto-based software organization,
has announced a new XRP Exchange Traded Product (ETP). In a press
release published on Wednesday, DeFi Technologies disclosed the
launch of Valour’s XRP ETP in December 2023. Related Reading:
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103 Trillion SHIB A popular YouTuber, Zack Rector has stated in a
recent YouTube video that the token is positioned to take advantage
of a large flow of liquidity driven by the initiation of multiple
XRP ETPs. Including Valour’s ETP, there have been many other
ETPs launched by industry-leading crypto companies. 21 Shares, a
Swiss financial institution, is one of the prominent companies that
issued its XRP ETP (AXRP) in 2019. Since its launch, AXRP has
recorded approximately $49 million in assets under its control and
the ETP earns a year-to-date return of +69%. Rector disclosed
that the growing number of ETPs could trigger significant
institutional inflows that could push the adoption of the token and
possibly drive its price upwards. Furthermore, the integration of
an XRP ETP has the potential to significantly advance the
ecosystem by enhancing liquidity and improving accessibility for
retail and institutional investors. ETP Influence On The
Price The announcement of Valour’s XRP ETP comes as a positive
development for the community and the broader crypto space.
Various crypto investors have expressed their optimism about the
significant impacts these ETPs could have on the XRP market. Just
as the news of Spot Bitcoin ETF applications propelled Bitcoin’s
price above $37,000, institutional flows from Valour’s XRP ETP
could drive the token’s price to $10. Related Reading:
Analyst Says Ethereum Is Seeing ‘Systemic Buying’, What This Means
The ETP issued by 21 Shares Ripple is a prime example of how XRP
ETPs have performed in the past. After being traded 447 times on
the market, this particular ETP generated $5 million in
revenue. Valour’s upcoming ETP has become a focal point for
investors seeking strategic investment opportunities. Crypto
investors are closely monitoring the market to assess the potential
gains that may follow the ETP’s debut. The anticipated launch
of Ripple’s IPO and the final resolution of the lawsuit between
Ripple and the United States Securities and Exchange Commission
(SEC) are also major events that could help drive the price of the
token to higher levels. Token price falls tot $0.619 |
Source: XRPUSD On Tradingview.com Featured image from Analytics
Insight, chart from Tradingview.com
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