#XRP ETF Goes Live#  and  #Gate Square Mid Autumn Creator Incentive#   

Is the US's First XRP ETF Launching This Week?

REX Shares and Osprey Funds are joining forces to launch an XRP ETF this week. This product will have several key differences from most spot crypto ETFs, but it's a significant breakthrough.

REX-Osprey also plans to launch a similar Dogecoin ETF, although it encountered several delays last week. These launches could provide valuable insights into the market impact of a future ETF.

A New XRP ETF?

The cryptocurrency community has been eager for an XRP ETF for several months, but despite repeated efforts, little progress has been made. Several rumors suggest such a product could soon enter the US market, but REX-Osprey has made a bold claim, stating that one is almost ready:

Will this product be the first US XRP ETF?

According to SEC filings by REX Shares and Osprey Funds, there are several key points. These two companies have filed several ETF applications with similar structures.

Key Differences

First, this XRPR ETF doesn't derive its value solely from the spot price of XRP. The filing states that up to 25% of the fund's total assets will consist of XRP investments, while the remainder can consist of assets such as US Treasury bonds, money market funds, cash, and cash equivalents. It may even invest in other crypto ETFs.

Furthermore, this XRP ETF is one of the few filings made under the 40 Act, indicating that the product will have a structure that is significantly different from other common spot crypto ETFs.

When the SEC approved the first Bitcoin spot ETF, Gensler noted that there was a pre-existing market for BTC futures products. Unfortunately, XRP doesn't have a corresponding market, which may be why the SEC hasn't treated this new ETF with similar seriousness.

A Huge Opportunity

Still, while XRPR may not fit everyone's definition of a spot XRP ETF, it won't be alone. REX-Osprey has filed applications for several products, but its Dogecoin ETF could launch soon. It encountered a few unspecified setbacks last week, but everything is reportedly ready for a Thursday launch.

Balchunas suggested that several Act 33 Dogecoin ETFs could receive SEC approval within the next two months. Whatever the details, investors should closely monitor these developments.

REX-Osprey's new product could provide many clues about the market impact of a future XRP ETF. Hopefully, this success will encourage regulators and issuers to continue their fight for full approval.

ETF expectations and institutional inflows could push the XRP price to $4.50.

XRP's potential rise to new all-time highs is supported by increasing institutional demand and open interest.

XRP could continue its upward trend to $3.12 and then $4.50.

XRP (XRP) is trading above $3, up 1.7 percent in the last 24 hours and 6 percent in seven days. The altcoin is poised for further gains, supported by several on-chain and technical factors.

Institutional demand for XRP investment products remains stable.

XRP flirts with $3 amid hopes of ETF approval: Is $3.60 the next stop?

XRP exchange-traded products (ETPs) recorded total inflows of $14.7 million in the week ending September 5th, bringing their total inflows for the year to $1.4 billion.

Other cryptocurrencies with large market capitalizations, such as Bitcoin (BTC), Solana (SOL), and Sui (SUI), recorded net inflows of $524 million, $16.1 million, and $600,000, respectively.

Ether (ETH), on the other hand, reported outflows of $912 million, signaling a potential re-route of funds from the largest altcoin to other cryptocurrencies, including XRP.

The anticipation of an XRP ETF approval in the US has been a key driver of XRP’s recent performance, leaving the price well-positioned for further gains as more institutional capital flows into the XRP market.

XRP derivatives data is bullish.

XRP derivatives traders are also returning, opening new positions, signaling a surge in speculative momentum.

XRP's open interest (OI) has also increased by 11 percent in the last seven days, from $7.4 billion on September 4th to $8.3 billion, signaling a surge in investor participation. According to the data, OI has increased by 4 percent in the last 24 hours alone.

XRP price eyes record highs

According to data, the XRP price has been consolidating within a symmetrical triangle on the daily timeframe since mid-July.

On Monday, it broke out of the consolidation at $2.95, closing above the triangle's upper boundary.

XRP has broken out of its multi-month consolidation, and the breakout is currently being confirmed by testing the $3 level.

Momentum is steadily building, with the relative strength index (RSI) rising to 54 from 36 a week ago.

Once the $3 resistance level is broken, the key levels to watch on the upside are $3.08 and $3.27.

Beyond this, the Fibonacci extensions from the larger consolidation remain unchanged, and a breakout of the $4.50 area remains the target.

However, bulls will need to break above the multi-year high resistance level of $3.66, which "will likely serve as a retest area once this move is made."

Looking closer, an ascending triangle on the four-hour chart is targeting $3.12 as long as support at $2.97 holds.

"The target level is $3.12 and could even go further."

A decisive close above $3 would pave the way for the XRPUSDT pair to rise to $3.15 and then $3.40.

XRP has even more ambitious targets and could still be on track to reach $20 this cycle.