First ever XRP ETF going live: Will it Push Ripple Price 600%?

The Ripple token (XRP) is the biggest gainer today, as the price surged multiple folds amid the XRP ETF hype. Despite the high volatility, legal battles, and crypto market downtrend amid the tariff chaos, the Asset manager Teucrium Investment Advisors is set to launch the first ever XRP-based exchange-traded fund in the US markets. As the hype is rising, the token is booming with gains. Will it pump the rice 600%? Let’s discuss this. Teucrium Investment Advisors to Launch First Ever XRP ETF Teucrium Investment Advisors is set to launch the XRP leverage exchange-traded fund, XXRP, today, April 8, in the US market on the NYSE Arca. More importantly, it is the first ever ETF for this digital asset that is also a leverage one, making it more interesting as it does not have a spot ETF yet. Because of this, Bloomberg analyst Eric Balchunas called it “very odd” before mentioning that this was the first ever case. The fund Teucrium 2x Long Daily XRP ETF will offer double the daily returns of the Ripple token. However, there are significant concerns as the Ripple price faces high volatility, especially in Trump’s tariff era. Even the investment advisors have left warnings but believe this is the right time to launch due to the low XRP price. Why XRP ETF Matters For Ripple Price? Industry experts have called the spot XRP ETF approval the most significant factor in the Ripple token’s bullish performance. Some even anticipate the XRP price hitting $1000 with these factors. This is because the SEC’s regulatory stance on Ripple has been severely affecting its performance. However, bullish cases are forming for the token as the SEC is broadening its vision and the ETF approval odds on polymarket rising. Today’s leverage ETF launch is fuelling the fire further. Interestingly, the 10% surge in the XRP price reveals investors’ increasing enthusiasm around the exchange-traded fund. With that, it currently trades at $1.86 with a market capitalization of $108.78B and is heading towards a bullish trajectory to $13 per expert. XRP Price Prediction: Ripple Price Might Surge 600% Next Crypto analyst CasiTrades claims that the altcoin is closer to the critical resistance of $1.90. If the token tests the resistance and bottoms near the key support of $1.55, this makes a strong bullish case for the Ripple price . According to her analysis and XRP price prediction , the token is up for a major uptrend in April, hitting the $8 to $13 mark within the month. Interestingly, the token has already tested the key resistance and is moving towards the support, increasing the credibility of the predicted rally. With that, she concluded it to be the most crucial month for token, especially as XRP ETF goes live today. The post First ever XRP ETF going live: Will it Push Ripple Price 600%? appeared first on CoinGape .

Source: CoinGape