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Key dishes to remember
How did the first US SPOT XRP ETF work when it was launched?
Rex Osprey XRP ETF saw 5x more in trading volume on the first day than its counterparts.
What is the next step for the XRP price?
Data showed mixed signals, with an unusual exchange sale, but the best players were still optimistic about Altcoin.
The first American spot Ripple (XRP) ETF (Stock market negotiated funds) made its debut with remarkable outperformance on September 18.
The ETF Rex Osprey XRP recorded $ 37.7 million in daily trading volume. During the first hour of negotiation, the product collected nearly $ 25 million in volume.
It was 5x more request that the other Futures of XRP ETF in their beginnings, stressing the massive interest.
Reacting to performance, the analyst of Bloomberg ETF Eric Balchunas called It is a “good sign” for the ETF XRP with incoming point.
Source: X
It is worth emphasizing that the other ETF XRP at the incoming point will be under a different and slow regime of the 33 law. Rex Osprey opposite For another way to accelerate the XRP ETF list.
However, the SPOT XRP price did not follow the impressive launch above.
XRP beats $ 3 Hurdle
The XRP price has dropped by around 3%, which could be worrying because the $ 3 are an area of supply and key resistance in recent weeks.
However, the positioning of the RSI has shown that the bulls always had the advantage of the market and could try to clean the obstacle.
Source: XRP / USDT, tradingView
But the data on the chain and the derivatives have flashed mixed signals. In particular, the exchange reserve increased from 3 billion XRP at the beginning of the month to 3.6 billion tokens from press time.
By way of comparison, the explosive rally last year was marked by a exchange reserve of less than 3 billion XRP.
Source: cryptocurrency
This could be an imminent sales pressure. But it was not clear if the building exchange reserve could make other approvals and a ‘Sell-the-News event.
However, on the derivative market, the best traders in Binance have remained strongly bruised.
In fact, after having reduced the risk before the Fed rate decision, they increase Long positions from 72% to 76% in the last two days.
