Close Menu
AsiaTokenFundAsiaTokenFund
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
What's Hot

Ripple Price Prediction As SEC Approves First XRP ETF

July 2, 2025

Erebor Emerges With Thiel Support to Serve Start-ups Post-SVB

July 2, 2025

Michael Saylor Drops $500M On Bitcoin—What’s His Next Move?

July 1, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) YouTube LinkedIn
AsiaTokenFundAsiaTokenFund
ATF Capital
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
AsiaTokenFundAsiaTokenFund

XRP Price Poised for 10% Rally After Grayscale XRP Trust Announcement: Report

0
By on September 12, 2024 Altcoin, Bitcoin, Regulations, Trading, Web3
Share
Facebook Twitter LinkedIn Pinterest Email

The post XRP Price Poised for 10% Rally After Grayscale XRP Trust Announcement: Report appeared first on Coinpedia Fintech News

XRP price is poised for a significant rally, despite gaining 6% upside momentum in the past four hours. It’s all thanks to the asset management giant Grayscale. On September 12, 2024, the firm announced its latest single-asset crypto investment product, Grayscale XRP trust.

Grayscale’s XRP Trust Takes the Spotlight

This announcement on X (previously Twitter) went viral and attracted significant attention from the crypto community. This post garnered 350K impressions in less than two hours and the number is still rising rapidly.

We are proud to announce the creation of a new single-asset crypto investment fund, Grayscale $XRP Trust, which will be available through private placement.

Available to eligible accredited investors.

Read the press release: https://t.co/rOmVPUSFxZ pic.twitter.com/WEhk849RmT

— Grayscale (@Grayscale) September 12, 2024

With Grayscale’s latest investment product, investors will gain the exposure to tap into XRP, a token powering the XRP Ledger, a distributed, peer-to-peer network created to help cross-border financial transactions. 

Current Price Momentum 

At press time, XRP is trading near $0.56 and has experienced a price surge of over 6% in the last 24 hours. Meanwhile, its trading volume has skyrocketed by 75% during the same period, indicating traders’ and investors’ bullish views following Grayscales’ announcement.

XRP Technical Analysis and Upcoming Levels

According to the expert technical analysis, XRP appears bullish after a week-long downturn, as it is now trading above the 200 Exponential Moving Average (EMA) on the daily time frame. However, the recent price surge has pushed XRP’s Relative Strength Index (RSI) into over-bought territory, suggesting a potential price reversal.

Source: Trading View

Based on the historical price momentum, XRP is facing strong resistance near the $0.58 level. If XRP’s daily candle closes above the $0.58 level, there is a high possibility it could soar by 10%  to the $0.632 level.

On-Chain Metrics: Bulls in Control

This bullish outlook is further supported by on-chain metrics. CoinGlass’s XRP long/short ratio currently stands at 1.0886, which indicates trader bullish market sentiment. Additionally, XRP’s future open interest has skyrocketed by 7.3%, suggesting that are increasingly betting on long positions.

Source: CoinGlass

Furthermore, Long/Short data shows that 52.12% of top XRP traders hold long positions, while 47.88% hold short positions.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ripple Price Prediction As SEC Approves First XRP ETF

July 2, 2025

Michael Saylor Drops $500M On Bitcoin—What’s His Next Move?

July 1, 2025

DeFi Development Announces Plans to Raise $100M to Buy More Solana: What Next for SOL Price?

July 1, 2025
Leave A Reply Cancel Reply

What's New Here!

Ripple Price Prediction As SEC Approves First XRP ETF

July 2, 2025

Erebor Emerges With Thiel Support to Serve Start-ups Post-SVB

July 2, 2025

Michael Saylor Drops $500M On Bitcoin—What’s His Next Move?

July 1, 2025

DeFi Development Announces Plans to Raise $100M to Buy More Solana: What Next for SOL Price?

July 1, 2025
AsiaTokenFund
Facebook X (Twitter) LinkedIn YouTube
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
© 2025 asiatokenfund.com - All Rights Reserved!

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.