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After the first crypto-based ETF showed an energetic response, investors are now eyeing the next digital asset trading product. As per the headlines, Ripple (XRP) is in the queue up next for landing an XRP ETF. Meanwhile, DTX Exchange (DTX) has set the crypto market on fire with its jaw-dropping presale rally, attracting crypto whales and investors from different crypto channels.
Following the success of the crypto world’s first crypto-based ETF, investors are now anticipating Ripple taking the first leap and bringing this idea to life. The senior managing director at CME Group was asked about the possibility of a Ripple (XRP) ETF, to which he responded, “The first major step has been taken,” which indicates an XRP ETF launch is in progress.
McCourt commented on XRP’s ETF launch one week after the SEC received its second application for an XRP ETF. According to Eric Balchunas (a Bloomberg ETF analyst), the Securities and Exchange Commission received the application from Canary Capital. While Ripple (XRP) is enjoying a wave of enthusiasm around the potential XRP ETF, its price hasn’t shown much response.
For the past two weeks, Ripple (XRP) has been struggling to gain momentum amid the broader crypto market rally. Several other altcoin projects have secured a bullish sentiment during the bullish market trend, but Ripple (XRP) hasn’t been able to match the pace. Over the last 365 days, the Ripple (XRP) price surged by only 8%, while Bitcoin (BTC) took off more than 154%.
The rising hype in the Ripple (XRP) network following the XRP ETF launch will bring back its lost value among investors and crypto whales. In terms of a price surge due to ETF, analysts claim that Ripple (XRP) could experience new highs in the network as ETFs can significantly shoot up the price of an underlying cryptocurrency.
Particularly for Bitcoin (BTC), spot ETFs accounted for nearly 75% of new investment in it by February 15 as it crossed the $50,000 mark. Anticipating the same price action from the Ripple (XRP) network, investors are hopeful about a potential breakout by XRP if higher authorities seal the deal of launching Ripple’s own XRP ETF before the year-end.
In terms of performance metrics, Ripple (XRP) is trading at $0.54 with a minor 1.13% surge in the last 24 hours. Ripple (XRP) currently owns a market capitalization of $30.84 billion, which has surged by $300 million. Ripple (XRP) has faced some retraction in its 24-hour trading volume of $1.15 billion, which has declined by 2.86% (approximately $30.8 million).
DTX Exchange (DTX) leads Ripple (XRP) following its grand CoinMarketCap listing. DTX Exchange has gained the trust and support of investors in a short time period. The platform has made it possible through its cutting-edge Layer1 blockchain technology and key features like 1,000X leverage, distributed liquidity pools, non-custodial wallets, and no KYC requirements.
DTX Exchange owns a community of over 75,000 active traders, with a total of 14 million DTX tokens sold so far. The project has also turned heads after it raised over $2,000,000 in a private seed round and over $100,000 in a public presale. Such mind-blowing stats rank DTX Exchange (DTX) as one of the most successful presales of 2024.
DTX Exchange (DTX) is gradually becoming an investor-favorite platform for its unique approach to crypto trading. DTX Exchange strives to enhance market liquidity by creating distributed liquidity pools. This benefits traders by reducing slippage and ensures a smooth trading experience regardless of trading volume or unstable market conditions.
DTX Exchange (DTX) has also been praised for equipping traders with the most advanced tools and features. From social trading and copy trading to on-chain analytics, trading bots, and trading signals, this emerging deFi platform empowers traders with the insights and resources they need to make high-stake decisions.
While XRP ETFs present new avenues for investors to land big money, DTX Exchange (DTX) is far ahead of Ripple (XRP) with its mind-blowing $4.9 million presale success and holds much more potential for early investors.
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