Recent developments have painted a positive picture for XRP, currently ranked as the third-largest cryptocurrency based on its market capitalization.
Yesterday brought news that REX Osprey, a digital asset fund manager, is launching the XRP ETF XRPR. This exchange-traded fund, the first of its kind in the U.S. offering direct exposure to XRP, provides a structured investment route for those looking to engage with XRP.
Peter Mintzberg, CEO of Grayscale, announced that the Grayscale Digital Large Cap Fund (GDLC) has received the green light for trading under Generic Listing Standards. This paves the way for a multi-asset Exchange Traded Product featuring Bitcoin, Ethereum, XRP, Solana, and Cardano.
Consequently, Grayscale Digital Large Cap Fund has formally submitted a registration statement, complete with a prospectus, to the Securities and Exchange Commission (SEC) for the proposed offering.
In other significant news, Ripple is collaborating with DBS Bank and Franklin Templeton to introduce repo markets utilizing tokenized collateral and stablecoins.
Avoid Spreading Fear About XRP
Following these promising updates for XRP Ledger and Ripple, crypto trader Oscar Ramos has urged the community to avoid spreading FUD (fear, uncertainty, and doubt) concerning XRP.
Ramos tweeted, “Do not FUD $XRP or you will Regret it,” emphasizing the potential benefits of Ripple’s innovative new partnership for the XRP Ledger.
DO NOT FUD $XRP or you will Regret it
You don’t see it yet, but XRP is going to $10 Next
massive new ripple partnership just in👇 pic.twitter.com/nrxBWSIlxi
The collaboration between DBS, Franklin Templeton, and Ripple aims to provide institutional investors with advanced trading and lending solutions. These solutions will be powered by tokenized money market funds on the XRP Ledger and stablecoins, including Ripple USD (RLUSD).
Ramos forecasts a surge in XRP’s value to $10, driven by these positive developments, stating: “You don’t see it yet, but XRP is going to $10 Next.”
As of the latest update, XRP’s price has climbed by 3.59% in the past 24 hours, reaching $3.12. This marks the third consecutive day of recovery from a recent low of $2.95 on September 15th. XRP’s current price point is above $3, aligning with the daily SMA 50.