The post XRP’s First 2x Leveraged ETF Hits NYSE This Week – XRP Price Pumped By 6% appeared first on Coinpedia Fintech News
The cryptocurrency market is about to witness a major milestone as Teucrium Investment Advisors is making history with the first-ever 2x leveraged XRP ETF in the U.S.
Meanwhile, it is set to trade under XXRP on NYSE Arca from April 8, this ETF offers investors twice the daily returns of XRP. The announcement has already stirred the market, pushing XRP’s price up 6% to $1.90.
XXRP: High-Risk, High-Reward XRP ETF
Unlike regular ETFs, XXRP aims to double XRP’s daily returns. If XRP rises by 5% in a day, XXRP investors would gain 10%—but losses also double, making it a high-risk, high-reward choice.
Teucrium has set a 1.85% management fee and an annual expense ratio for the fund. Right now, XXRP holds $2 million in assets.
Teucrium’s CEO, Sal Gilbertie, is optimistic about the fund’s potential, noting strong investor interest in an XRP ETF. He also hinted at launching more crypto ETFs in the future.
“If you strongly believe in XRP’s short-term price movements, this ETF could be a great opportunity.”
Interestingly, XXRP is launching during a market downturn, partly due to U.S. President Donald Trump’s tariff policies.
75% Odds of XRP ETF Approval in 2025?
While the leveraged ETF is making headlines, analysts remain focused on the approval of a spot XRP ETF. Several major asset managers, including WisdomTree, Bitwise, 21Shares, Canary Capital, and Franklin Templeton, have submitted applications to the SEC, which are currently under review.
Bloomberg ETF analyst Eric Balchunas noted that launching a leveraged product before a spot ETF is unusual, but suggested that the chances of a spot XRP ETF gaining regulatory approval remain high.
Current estimates place the likelihood at 65% by 2025, with prediction market Polymarket giving it a 75% chance.
XRP Price Reacts to ETF News
Following the announcement of XXRP’s launch, XRP experienced a notable price jump, climbing 6% to reach $1.90. Technical analysis suggests that XRP found strong support at $1.65 before its recovery.
If XRP breaks above the resistance at $1.95–$2.00, it could surge to $2.60. However, failing to break $2 may lead to a retest at $1.69.