The XRP price may be gearing towards a bullish momentum with the potential release of multiple ETPs and the anticipated launch of Valourโs XRP ETP into the European markets next month.ย
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 Valourโs XRP ETP in December 2023.ย
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.ย
Including Valourโs 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%.ย
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 XRPย ETP has the potential to significantly advance the ecosystem by enhancing liquidity and improving accessibility for retail and institutional investors.ย
ETP Influence On The Price
The announcement of Valourโs XRP ETP comes as a positive development for theย 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 Bitcoinโs price above $37,000, institutional flows from Valourโs XRP ETP could drive the tokenโs price to $10.ย
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.ย
Valourโs 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 ETPโs debut.ย
The anticipated launch of Rippleโs 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.ย
Token price falls tot $0.619 | Source: XRPUSD On Tradingview.com
Featured image from Analytics Insight, chart from Tradingview.com
