XRP Price No Longer Trading at Discount

The current market trend shows that Bitcoin (BTC) and most altcoins, like XRP, are gradually paring off some of their long-term losses. Over the past week, the price action of XRP has come with limited volatility as both retail and institutional buy-ups maintained a balance.

XRP price no longer cheap

At press time, the price of XRP was $2.12, up by 3.5% in the past 24 hours, according to CoinMarketCap data. The digital currency has been trading at no loss over the past week. At one point over the past month, XRP traded for as low as $1.60, giving investors reasonable motivation via the discount to stack up the coin.

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The coin’s overall tide is changing, as intense price volatility is clearing off. As reported earlier by U.Today, the XRP price is on the verge of an epic golden cross breakout as market conditions improve.

Current trading volume jumped by 69.2% to $2.34 billion, a sign of market health and interest in the coin. It remains to be seen how the week will shape up. However, the coin has displayed a positive start in its bid to end the month positively.

What’s next for XRP?

Many ecosystem fundamentals are brewing that may impact the XRP price for good. One of these is the growing push for a spot XRP ETF product in the United States. While the wait for a full-fledged spot ETF is on, alternative products have been launched.

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Teucrium has launched the country’s first leveraged ETF, which has recorded sizable adoption since its inception. In addition, Bitnomial has launched an XRP futures ETF, taking advantage of the close of the Ripple v. U.S. SEC legal battle last month.

ProShares is on track to launch a similar futures product to track the coin’s price. The assumption is that these new products can drive an uptick in the price of XRP moving forward.