A new exchange-traded fund (ETF) for XRP just hit the trading floor. This time, the firm behind it is Bitwise. Just a few hours after its launch, the fund has attracted $100 million in assets, favoring a bullish XRP price prediction.
Bitwise already had an exchange-traded product (ETP) linked to XRP – the Bitwise Physical XRP ETP.
This product managed $230 million in assets for investors, reflecting Wall Street’s existing appetite for the altcoin.
The launch occurs at a time when the crypto market is dipping hard. The market has panicked over the Federal Reserve’s change of heart concerning its interest rate decision in December.
XRP Price Prediction: XRP Could Be Ready to Bounce Back as Momentum Readings Hit the Extremes
XRP has dropped 10% to $1.80 as heavy selling pressure drags the market lower.
After breaking below a key trend line, the price appears headed for $1.77 — the level hit during the October 10 flash crash.
Trading volume has surged 48% to nearly $9 billion in the past 24 hours, now making up 8% of XRP’s circulating supply.
Momentum is now deeply oversold.
The Relative Strength Index has crashed to 24 on lower time frames, a level that often precedes short-term bounces.
If XRP holds here and forms a double bottom, the path to recovery could target the $2.30 zone, offering a potential 21% rebound from current prices.
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The post XRP Price Prediction: New XRP ETF Goes Live on NYSE – Wall Street Billions About to Flood In appeared first on Cryptonews.
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