XRP Beats Bitcoin as Ripple-Linked Token's ETF to Go Live at U.S. Market Open

XRP surged 3.28% to $2.48 as Nasdaq approved the first U.S. spot XRP ETF, scheduled to launch at the U.S. market open. The ETF, managed by Canary Capital, will use Gemini Trust Company and BitGo Trust Company for custody and the CoinDesk XRP CCIXber benchmark for pricing. This launch signifies a major development in the expansion of spot crypto ETFs beyond Bitcoin and Ethereum. XRP's trading volume increased by 31%, indicating strong trader interest ahead of the ETF event, with over 21,000 new XRP wallets created in 48 hours. Technical analysis shows XRP maintaining a bullish structure, as it broke through a resistance level of $2.45, with primary support at $2.40. Traders are closely watching market dynamics, particularly as the ETF aims to drive institutional inflows similar to past crypto ETF launches. The upcoming launch is expected to influence XRP's price trajectory significantly, with the potential for heightened market activity.

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