XRP Latest Updates: Launch of XRP ETF Sparks $5 Price Prediction Despite Conflicting Market Indicators
- Binance's influence and Canary Capital's first U.S. XRP ETF drive $5 price forecasts amid rising retail demand and $4.11B open interest. - XRP's unique cross-border payment utility contrasts with subdued institutional demand, despite $138M ETF inflows post-October deleveraging. - SEC's 2023 ruling enabled XRP ETFs, with Canary's product showing $36M debut volume and addressing custody concerns per regulatory guidelines. - Technical indicators show mixed signals: RSI at 48 suggests waning momentum, while
Binance may play a significant part in driving renewed momentum for
The derivatives sector has shown signs of recovery, with XRP’s Open Interest (OI) climbing to $4.11 billion on November 11, up from $3.36 billion the day prior.
Institutional appetite for XRP has been relatively muted, even as retail interest remains strong.
Clearer regulatory guidance has also been a major factor.
Technical and on-chain metrics further support a bullish outlook.
Nevertheless, some obstacles remain.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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