- XRP ETF by REX Shares and Osprey Funds is expected to debut this Thursday with DOGE ETF.
- XRP price slipped by 2.61% in the last 24 hours to trade at $2.97.
- XRP ETF may debut as XRPR.
Bill Morgan, a notable crypto lawyer, shared that XRP ETF was coming this week. XRP ETF will essentially come with an exposure to XRP price. DOGE ETF is speculated to make its debut alongside Ripple-related ETF on the same day. XRP prices are under the scanner as the debut of its ETF could reverse the ongoing correction.
XRP ETF Debut This Week, Says Bill Morgan
A well-known crypto lawyer, Bill Morgan, said that the XRP ETF was coming this week. Morgan added that the said ETF would have direct exposure to the XRP price. The statement came while sharing an X post by REX Shares. Bill further underlined that the fund will allocate 80% of investments either directly in XRP or assets that have exposure to the Ripple token.
REX Shares and Osprey Funds are likely to debut the ETF this Thursday under the tikr XRPR. If launched, it would be the first XRP ETF in the American market. What makes this more interesting is the fact that XRP is the third-largest cryptocurrency with a market cap of $177.63 billion.
Will XRP Price Soar?
The news of XRP ETF Debut has triggered speculation around XRP price. The Ripple token is currently listed at $2.97, down by 2.61% over the last 24 hours. Some community members see this as a price correction phase, which eventually sparks an uptick. XRP price is also down by 4.91% over the last month at the time of drafting this article.
Long-term XRP price prediction highlights that the token might reach $3.44 in the next 3 months. That would be an increase of around 14.95% from the current value amid the volatility of 3.46%. Overall sentiments around the Ripple token are neutral with an FGI of 53 points. XRP price is anticipated to move within a confined range at least for the next 1 month.
DOGE ETF Debut
A report by Yahoo Finance highlighted that the DOGE ETF could make its debut alongside XRP ETF. Rex Shares and Osprey Funds have registered DOGE ETF under the Investment Company Act 1940. DOGE ETF, or DOJE, and XRP ETF will reportedly invest via their subsidiary instead of offering direct exposure to the underlying asset.
The DOGE price is currently down by 5.99% over the last 24 hours. The meme coin is exchanging hands at $0.2645, which reflects a surge of 13.08% in the last 7 days and 13.41% in the last 1 month.
The market cap of DOGE stands at $39.94 billion. There is an increase of 11.87% in the 24-hour trading volume, which is $5.57 billion right now.
It is important to note that the contents of this article are not recommendations or advice for crypto trading and investment. Research and risk assessment are advisable.
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Source: https://thenewscrypto.com/bill-morgan-underlines-xrp-etf-debut-xrp-price-rally-ahead/