XRP’s institutional momentum continues to build, with the REX-Osprey XRP ETF (XRPR), the first of its kind in the US, surpassing $100 million in assets under management. The ETF is being credited as a major driver of institutional adoption of XRP.
Additionally, CME Group has launched new XRP options, bolstering its derivatives offerings following the successful performance of its XRP futures.
REX-Osprey has credited its success to investor interest and regulatory direction
The REX-Osprey XRP ETF has now surpassed $100 million in assets under management, marking a significant milestone for the institutional adoption of XRP. REX Shares highlighted the ETF’s performance on X, noting an increasing interest in regulated exposure to digital assets. The investment manager cited increased investor interest and improved regulatory clarity as among the reasons behind the fund’s momentum.
Months earlier, REX Shares also noted strong demand for XRP exposure due to a more formal and regulated market environment. Around the same time, it launched the T-REX 2X Long Galaxy Digital Daily Target ETF, ticker GLXU.
Meanwhile, CME Group has broadened XRP’s institutional offering, introducing options on XRP futures to complement existing ETF-like products.
Meanwhile, CME Group has also broadened XRP’s institutional offering, introducing options on XRP futures to commemorate five months of active futures trading. The exchange noted that the product has maintained solid demand since its May rollout, recording over 567,000 trades to date. The figure translates to $26.9 billion in notional volume, about 9 billion XRP, which CME cited as a sign of sustained institutional optimism toward the asset. Market participants now have access to a range of regulated tools, including ETFs, spot, futures, and options, to diversify their exposure.
The company announced: “Five months for XRP futures! Since launching in May, we’ve seen incredible demand for this regulated product. Ready for more control? Options on XRP futures are officially LIVE! “
XRP is gaining momentum due to increased institutional participation and buying pressure
Ripple’s latest acquisition news has further energized the market. CEO Brad Garlinghouse confirmed the completion of Ripple’s purchase of Hidden Road, now rebranded as Ripple Prime, pushing XRP above the $2.50 mark.
John Deaton, an American attorney and a prominent advocate for cryptocurrency investors, even commented, saying, “Between late December 2020 and 2023, we witnessed people’s Ripple’s Obituary. Today, those same people admit Ripple has become a major player in the industry.”
The price of XRP has increased by 3.49% over the last 24 hours, reaching around $2.56. Over the past week, the token’s price gained 6.46%. Analysts attribute the momentum to heightened institutional participation and steady buying pressure.
Data from CoinGlass indicates that XRP futures trading volume increased by 8.66% to $5.98 billion. XRP futures open interest has increased by 5.20% to $3.88 billion, a sign of growing confidence among leveraged traders and continued institutional accumulation.
Although the token had tumbled around October 10, now, analysts are hoping the asset will break resistance at $2.80, which could propel the token to $3.05 or even $3.40 in the near term.
So far, indicators suggest a continued recovery, with the RSI at a neutral 52 and the MACD on the verge of a bullish crossover, indicating that upward momentum is building. But a loss of momentum would likely push XRP below $2.20, especially if the overall market mood turns cautious.
The institutional demand for regulated XRP products has increased and evolved over the last five months, with futures contracts now offered on the CME Group. According to the exchange claims, the notional trading volume of XRP and micro futures has reached $27 billion since their launch.
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