XRP price rebound incoming as XRPR ETF assets hits $10m
XRP price has pulled back in the past few days despite some highly bullish catalysts, including the warm reception of the REX-Osprey XRPR ETF and the rising odds of Act 33 ETF approvals by the Securities and Exchange Commission.
XRP price has formed a large bullish flag chart pattern.
Data shows that the XRPR ETF has added over $10 million in assets.
That is a sign that there is strong demand for XRP assets.
XRPR ETF inflows are rising
Ripple xrp-5.68%XRP dropped to the critical support at $3, down by 6.6% from its highest point this week and 19% below the year-to-date high.
The recently launched REX-Osprey XRPR ETF is seeing strong demand from American investors. Data shows that the fund’s volume on the first day was about $37.7 million, making it the best debut in terms of volume this year. Its volume then came in at $15 million on the second day.
According to its website, the fund’s assets have now jumped to over $10.9 million. This is a notable achievement because it is an expensive fund with an expense ratio of 0.75%.
It is also a sign that there is robust for XRP assets. For one, the other leveraged XRP ETFs like Teucrium’s XXRP and ProShares’ UXRP have gained over $430 million and $120 million assets in the past few months.
