- XRP ETF trading volume surged 5x, hitting $120M amid rising investor demand.
- Teucrium’s XRP fund soared to an all-time high of $42.05, marking a 56% gain.
- Speculation grows around a spot XRP ETF, with 88–95% odds of approval in 2025.
XRP finds itself once again back in the spotlight of growing investor interest as products related to the token witness an overnight increase in trading volumes. Foremost among them stands the Teucrium 2x Long Daily XRP ETF (symbol: XXRP), a 2x leveraged exchange-traded fund.
It is designed to deliver twice the day-to-day movement of XRP by entering into swap agreements. The fund has gained rapid popularity among traders who want to take advantage of XRP’s day-to-day momentum and increasing market sentiment.
On 11th June, Bloomberg ETF analyst Eric Balchunas highlighted a notable spike in XXRP trading volume, which rose to four to five times its average daily volume. Trading rose by 27% within 24 hours and 55% week on week. These moves put the ETF’s combined volume up to just over $120 million, a considerable spike in investor interest.
As a result of this increased activity, XXRP has shown stunning appreciation. According to Yahoo Finance, the ETF has just reached an all-time high of $42.05, translating to 56% appreciation from its initial issue level. The total net assets under management have therefore increased to roughly $249 million, which is good news as far as further institutional and retail buying interest in XRP’s future goes.
The majority of this momentum has been driven by XRP’s very good spot market performance. The token has advanced by over 24% during the last week, reaching $2.97, its highest level since mid-May, before easing back to $2.72 today. The higher prices have come alongside an evident increase in network usage.
XRP ETF Growth Fuels Spot ETF Speculation
Blockchain analytics platform Santiment revealed a new spike in XRP wallets created, signaling new retail interest and new inflows into the XRP ecosystem. XRP, on its own, has been gaining popularity on cryptocurrency-based social networks, and this has helped to further stimulate bullish sentiments and encourage further interest in XRP-based products like XXRP.
Also Read: XRP ETF Debuts on TSX: Canada Leads with First Spot Offering
The rapid increase in Teucrium’s leveraged ETF has also garnered fresh debates on initiating a spot XRP ETF. Market observers take XXRP’s success as an undeniable indication that investors are clamoring for regulated, exchange-listed products that are tied to the market movements of XRP.
They believe that the insatiable demand for a leveraged ETF just provides additional credibility on initiating a non-leveraged spot counterpart.
According to prediction site Polymarket, the odds that this year an ETF on spot XRP will receive approval stand at 88%. The odds are still greater, 95%, say analysts from Bloomberg.
As institutional demand keeps on rising, retail flows pick up further, and ETF trading volume hits new records, XRP appears to be building its foundation for its subsequent major milestone, mainstream adoption through a fully regulated spot ETF.
Also Read | XRP Reclaims Top 4 Spot with $170B Market Cap: $3.75 Target Next?
Disclaimer: This article is based on real-time market data and general technical observations. It does not constitute financial advice. Always conduct your own research before making investment decisions.