Future

bullish

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/xrp-shows-stability-as-21shares-files-for-etf-approval/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP Shows Stability as 21Shares Files for ETF Approval</a><br></p>
<p style="text-align: justify">Despite the overall decline in the <a href="https://en.coin-turk.com/paypal-introduces-new-cryptocurrency-token-supported-by-paxos/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/market-trends-influence-cryptocurrency-movements-this-week/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> market, XRP has entered a stable consolidation phase above $0.53. This indicates a period of equilibrium for Ripple , suggesting potential future gains if market conditions remain favorable.</p>
<h2 id="21shares-xrp-etf-application">21Shares’ XRP ETF Application</h2>
<p style="text-align: justify">The slight increase in interest over the past week has reignited interest in XRP. A significant development supporting this positive sentiment is 21Shares’ application to the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) linked to XRP.</p>
<p style="text-align: justify">21Shares has sought approval for a spot XRP ETF in order to list the 21Shares Core XRP Trust on the Cboe BZX Exchange. This move offers investors a way to gain indirect access to the XRP market through a regulated channel.</p>
<h2 id="xrp-price-predictions-indicate-potential-growth">XRP Price Predictions Indicate Potential Growth</h2>
<p style="text-align: justify">Currently, XRP trades around $0.51, showing signs of consolidation in recent sessions. Should buying pressure increase, XRP is anticipated to reach the $0.6 mark. Surpassing this level could lead to heightened bullish interest, possibly pushing prices up to $0.7.</p>
<p style="text-align: justify">Some optimistic analysts predict that, if market conditions remain favorable, XRP could rise to $0.8 by November.</p>
<p style="text-align: justify">The Moving Average Convergence Divergence (MACD) indicator shows slight bearish signals in the short term, suggesting price fluctuations. However, the MACD histogram indicates limited selling pressure due to minor negative divergence.</p>
<h2 id="market-outlook-and-future-expectations">Market Outlook and Future Expectations</h2>
<p style="text-align: justify">XRP’s resilience against market volatility and the ETF application have bolstered investor confidence. Approval of the 21Shares XRP ETF could enhance asset adoption. If positive momentum continues, XRP’s target remains $0.7, with potential to reach $0.8 by November.</p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/bancolombia-launches-new-crypto-exchange-wenia/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Coinbase</a> Custody Trust Company will be responsible for holding XRP assets if the ETF is approved. Other asset managers, such as Bitwise, have also filed similar ETF applications for XRP ahead of 21Shares.</p>
<p style="text-align: justify">In the overall context of cryptocurrency market instability, XRP’s demonstrated resilience and 21Shares’ ETF application signals positive prospects for Ripple’s future. Investors may see value appreciation in XRP, given favorable regulatory outcomes and supportive market conditions.</p>
<p>The post <a href="https://en.coin-turk.com/xrp-shows-stability-as-21shares-files-for-etf-approval/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP Shows Stability as 21Shares Files for ETF Approval</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

XRP Shows Stability as 21Shares Files for ETF Approval

Table of Contents

COINTURK NEWS

Other articles published on Nov 2, 2024

Crypto Analyst Predicts Dogecoin and Other Altcoins Will Rise

Trump makes big promises about crypto in US — But can he deliver?

WeberAsset.ai Ensures Financial Independence for Users Globally Review

These Top 3 Cryptos Could Repeat Solana’s 10,000% Rally—Experts Recommend Buying in Q4

Shiba Inu Continues To Trade In The Red, Is A Recovery Possible Or Should You Buy This Altcoin Re...

SafePal Launches New Mini Wallet App on Telegram

Join our free newsletter for daily crypto updates!