Ripple CEO speaks out for the first time about XRP Trust: Metrics are mixed as ETF expectations rise

After the Bitcoin and Ethereum ETFs, Grayscale created excitement in the cryptocurrency market by announcing the XRP Trust on Thursday, September 12. The XRP price, which had been flat throughout the week, reached $0.58, a 7% increase immediately after the news. Ripple CEO Brad Garlinghouse also made the first statement about the matter, expressing his surprise at the development.

Expectations for ETFs rose with Ripple CEO's statements!

The Grayscale fund, which triggers optimism among investors, provides direct access to XRP tokens. The fund, offered to users through a private placement, will only be open to accredited investors and institutional XRP users, according to Grayscale's statements.

Was (pleasantly) surprised to see this news...though inevitable, as well?!

As I’ve said before, with XRP having regulatory clarity in the US and other countries, I expect it’s only a matter of time for this space to grow.

• Brad Garlinghouse (@bgarlinghouse) September 12, 2024

Ripple CEO Brad Garlinghouse, speaking for the first time after the announcement of the XRP Trust, stated that optimism is high. Garlinghouse expressed his surprise at this development, but also mentioned that it was an expected development.

In the announcement of XRP Trust, it stated that the main reason for this was the legal clarity of XRP coin after the SEC case. It also indicated that it believed that developments in this field were only a matter of time, revealing that expectations for Stop ETFs were optimistic. However, the blocking of Solana ETFs had temporarily eliminated ETF expectations for XRP.

Increased whale movements after XRP Trust

After the launch of the XRP Trust, it has been revealed that a transfer of 150 million XRP tokens was made to an unknown wallet. According to Whale data, there has been an increase in whale transfers in the last two days. Prior to the recent transfer, a transfer of 25,520,000 XRP tokens had been made.

This transfer, equivalent to 14,344.892 dollars, was made to the Bitso exchange. Yesterday, news of a different transfer worth 17,800,000 XRP was shared. Transfers from an unknown wallet can trigger fluctuations in the XRP price.

Current XRP price outlook

After the launch, the XRP price, which increased by 7 percent, rose to $0.58, surpassing the $0.55 limit. The altcoin, which could not reach the $0.60 level, fell from this point to $0.56. The trading volume increased by 112 percent in the last 24 hours, indicating intense investor interest. According to Coinglass data, the Open Interest rate increased by percent and the volume increased by 345 percent.

When looking at the XRP price, it has strengthened its bullish outlook by rising above the 200-day EMA. The MACD indicator is moving towards the positive zone by crossing the signal line upwards. The Bollinger Bands show that the price volatility is low as they contract. The RSI indicator has moved back above the 50 level to the buying zone at 52.

The information in the text is purely for informational purposes. It does not constitute any investment advice. Writer and kriptoparahaber.com are not responsible for your profit or loss due to your investments. Investment ultimately depends on many foundations such as knowledge, accumulation, experience, research and personal decisions.

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