RIPPLE: After Bitcoin and Memes rally it's XRP's turn, +70% monthly

By Daniele Corno

After the possible changing of the guard in the SEC and the first Multi-crypto indexes, it's now Ripple's turn, XRP toward $1 dollar

Attention returns to XRP

In a November month driven by the U.S. elections, markets in ATH supported by strong buying and volumes and a favorable regulatory environment, attention also returns to altcoins, today it is the turn of Ripple and XRP.

In fact, in yesterday’s day, in addition to the listing of PEPE, the Memecoin of the moment, Robinhood also added XRP among its supported assets. The listing, comes against a backdrop of increasingly favorable regulations for the crypto sector, marking a watershed from the continuous hurdles imposed previously.

In today’s day there are rumors, following a statement last night, of a possible changing of the guard of the Chairman of the SEC. Indeed, it appears that Gary Gensler is close to stepping down from his role.

This news has had a strong positive impact in the price of XRP. After the ongoing back-and-forth of lawsuits between the company Ripple and the SEC, it marks +14% on the daily chart, breaking $0.85 and heading toward the $1 dollar round price.

Indices and multi-crypto ETPs

Following the success of spot ETFs on Bitcoin, the market has begun to consider the option of introducing multi-crypto structured products.

In fact, in October, Grayscale requested to convert its multi-crypto Trust “Digital Large Cap Fund” into ETFs. Coinbase has also jumped into multi-crypto investment products, launching Coin50, an index representing the top 50 cryptos selected by the exchange.

Today, however, another player joins the list. It is Bitwise, which has applied to convert its multi-crypto fund into an ETP. This is the largest fund in this category in the market, with over $1.3 billion in AUM.

These new financial products offer exposure to a basket of crypto assets, and XRP, seventh by market cap, is present within all of these products.

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