Crypto Fans and XRP’s Missing ETF
Have you noticed that XRP, a major player in the crypto world, is missing something others have – a spot exchange-traded fund (ETF)? Yassin Mobarak, a crypto expert from Dizer Capital, recently pointed out this missing piece, leaving us curious to understand more about it.
XRP: The Odd One Out
XRP has legal clarity but lacks an ETF application, unlike Bitcoin (BTC) and Ethereum (ETH). Despite dropping below the support level of $0.67 earlier this month, XRP’s 20-day Exponential Moving Average (EMA) at $0.60 and the positive Relative Strength Index (RSI) indicate that buyers still have an advantage. If XRP rises above the 20-day EMA, it could break the $0.78 resistance and reach higher levels like $0.90 or even $1.1.
What Traders Should Watch For
Traders are cautious due to signs of being overbought in the Relative Strength Index (RSI). However, Ripple’s expansion of cross-border payment solutions may increase XRP’s value. As everyone watches closely, the question of what’s next for XRP’s ETF journey is a mystery that’s keeping us all curious.
Hot Take: The Implications of XRP’s Missing ETF
The absence of an ETF for XRP raises questions about its future potential and market value. While legal clarity sets it apart from other cryptocurrencies, the lack of an ETF application leaves room for speculation and uncertainty about its trajectory in the market. As traders continue to monitor its performance, the implications of this missing piece remain a topic of interest within the crypto community.
Cino Gaperi stands out as a prominent crypto analyst, accomplished researcher, and adept editor, making significant contributions to the field of cryptocurrency. With a strong background in crypto analysis and research, Cino’s insights delve deep into the intricate aspects of digital assets, appealing to a diverse audience. His keen analytical skills are complemented by his editorial proficiency, allowing him to distill complex crypto information into easily digestible content.