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SEC Approves XRP Futures ETFs—Is $2.50 Now Within Reach?
The Securities and Exchange Commission (SEC) has finally given the green light to XRP futures ETFs, with ProShares set to roll out three new products on April 30th. This monumental approval marks a significant turning point for institutional adoption and regulatory inclusion in the crypto space. As a result, $2.50 seems increasingly within reach.
The ripple effect of this news has already started to manifest itself. The XRP futures market is abuzz with excitement as Open Interest (OI) shatters previous records, surpassing $7 billion. The Estimated Leverage Ratio (ELR) is also soaring to a one-month-high, signaling the beginning of a buying frenzy.
Furthermore, XRP’s “long” streak shows no signs of slowing down, driven by the Funding Rate remaining in the green. This uptrend has finally allowed the cryptocurrency to break through the stubborn $2.20 resistance, hinting at a possible push towards $2.50. As the situation unfolds, it is crucial for investors to remain cautious and keep their wits about them as risk of liquidations looms.
In conclusion, the recent SEC approval and subsequent market momentum put $2.50 firmly in sight.
Source: https://ambcrypto.com/sec-approves-xrp-futures-etfs-is-2-50-now-within-reach/
