The main dishes to remember:
- XRP was added to the United States regulation price index of Nasdaq cryptography.
- Current secure restrictions prevent Hashdex FNB from holding XRP, although a rule change decision is pending.
- The XRP price faces a short -term lower pressure, with a key resistance at $ 2.30 and a downward risk to $ 2.14.
XRP has joined the United States Nasdaq Crypto regulation price index, a decision that could further open the door to institutional exposure and reshape the liquidity on the main markets.
On June 6, Asset Manager Hashdex updated his US ETF ETF of the Nasdaq cryptography index with the American SECURITIES AND EXCHANGE (SEC), describing the modifications of his reference.
According to the file, the NASDAQ expanded the index on June 2 to include XRP, alongside Cardano (ADA), Solana (Sol) and Stellar Lumens (XLM).
Previously, the index was limited to Bitcoin (BTC) and Ethereum (ETH).
Hashdex’s NCIQ ETF follows this index
The Hashdex FNB, which is negotiated under the NCIQ TICKER, follows this index, providing weighted exposure to the BTC and ETH market in a regulated framework.
However, the current dry restrictions prevent the ETF from containing digital assets beyond the BTC and the ETH, a limitation which can introduce the risk of monitoring now that XRP and others are included in the reference.
“Under current regulatory restrictions, the trust is only allowed to hold bitcoin and ether and is not authorized to hold the new constituents of the index,” says the file.
“As such, the risk of potential monitoring error is increased.”
Separately, Nasdaq submitted a change of rule proposed in March which would allow the ETF to follow the wider Crypto Nasda (NCI) index, which already includes XRP, Sol, ADA, XLM, ChainLink (Link), Litecoin (LTC) and Uniswap (UNI).
XRP was officially added to the NCI on June 3, 2024.
If the SEC approves the change of rule of the Nasdaq, the Hashdex FNB would be able to hold all the constituents of the NCI – a potential change of play for the institutional imprint of XRP.
A final DEC decision is expected by November 2.
Pressure of XRP bears despite the inclusion of the Nasdaq index
XRP is negotiated nearly $ 2.22 after a volatile weekend, with technical signals pointing to a short-term lower momentum.
On the 2 -hour table, XRP faced a strong resistance around $ 2.30 and failed to maintain momentum upwards, withdrawn from the Bollinger strip of less than $ 2.14.
RSI is 51.52, indicating a neutral impulse but leaning towards a surrahat after recent rallies. The MacD remains flat, signaling indecision among traders.
On the 30 -minute board, XRP shows a sharper decrease trend. RSI is at 34.32, approaching the territory of occurrence, while the MacD remains negative, strengthening the lower short -term pressure.
The price has struggled to stay above $ 2.25 support, which suggests that the sellers remain in control.
The one -minute graph confirms short -term weakness, RSI falling to 32.74 and MacD in negative territory. Buyers fail to generate a sustained volume, recent rebounds were quickly sold.
Despite XRP’s inclusion in the United States Settlement Price Index of Crypto Nasdaq, institutional flows have not yet raised prices’ action significantly. Unless XRP takes up $ 2.30 with a strong volume, more downwards to $ 2.14 remains likely.
Merchants should monitor the broader feeling of the market and the coming decisions of the dry that could affect institutional access to XRP -based products.
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