- Ripple’s leadership remains silent on specific price targets.
- XRP active addresses reach a seven-year high.
- No cross-asset impact on BTC or ETH reported.
XRP is aiming for a $17 target as daily active addresses increased by 41%, following the launch of the ProShares Ultra XRP ETF in US markets.
Institutional interest has surged following ProShares’ leveraged ETF launch, offering exposure to XRP derivatives. The rise in active addresses and open interest illustrates heightened speculative activity.
Ripple Labs and Market Speculation
Ripple Labs, led by CEO Brad Garlinghouse, has seen a surge in XRP activity but has yet to comment on price projections. The ProShares Ultra ETF does not directly hold XRP, impacting its trading dynamics.
Market Reactions and Historical Trends
Financial markets witness increased XRP activities without influencing BTC or ETH. The ETF introduction marks a milestone for XRP after SEC litigation, yet official statements on pricing remain limited.
“Clarity around XRP is key for onboarding institutional flows.” – David Schwartz, CTO, Ripple
Historical ETF launches often generate initial price rallies, later tempering with market stability. The present market dynamics follow similar patterns, stirring speculation within cryptocurrency communities.
Future Implications for Altcoins
XRP’s current upswing could instigate correlated movements in high-beta altcoins. Eyes remain on broader market reactions to determine future pricing and technological impacts.
