XRP price rises as multiple spot ETFs expected this week – Stocktwits

XRP price showed significant growth compared to other cryptocurrencies on Monday, with retail sentiment leaning towards a positive outlook. The surge in price accompanied by bullish sentiment anticipates a rise in XRP’s value, driven by the imminent launch of several XRP spot ETFs scheduled for the week.

Among major cryptocurrencies, XRP experienced a 1.3% increase in price over the past 24 hours, reaching around $2.26. Retail discussions and sentiment on platforms like Stocktwits reflected a bullish sentiment towards Ripple’s native token with high engagement levels in the past day.

The positive momentum coincides with the upcoming introduction of XRP spot ETFs by prominent financial firms. Leading the launch is Franklin Templeton with its XRP spot ETF ‘EZRP’ scheduled to go live on Tuesday, followed by Bitwise on Thursday, and 21Shares between November 21 and 22, based on final listing arrangements.

Canary Capital’s successful launch of XRP spot ETF ‘XRPC,’ which attracted $243 million in its initial week despite market downturns, further boosts optimism around XRP’s future performance. Data from SoSoValue highlights the contrast between inflows in XRP spot ETFs versus outflows in Bitcoin and Ethereum spot ETFs for the month.

Amidst recent market fluctuations leading to wide-spread losses, XRP has stood out for its resilience. Over the past 30 days, XRP saw the smallest decline compared to Bitcoin and Ethereum, with drops of 6.4%, 11.7%, and 12.6%, respectively. Despite challenges, XRP has more than doubled in price over the past year, showcasing its potential for growth.

Having reached an all-time high of $3.65 in July, XRP currently trades nearly 40% below that peak. The upcoming launch of multiple spot ETFs aims to position XRP as a promising investment option amidst ongoing market uncertainty and instability.

In conclusion, the recent price surge and positive sentiment surrounding XRP signify growing interest and confidence in the digital asset, particularly in anticipation of the launch of various XRP spot ETFs this week. As XRP continues to demonstrate stability and resilience in a volatile market, investors are closely monitoring its performance and potential for future growth.