WisdomTree Files S-1 for its Spot XRP ETF

WisdomTree, a leading asset manager has filed its S-1 for an Exchange Traded Fund (ETF) that tracks spot XRP. The announcement marks an important milestone for cryptocurrency. Ripple’s XRP has surged after the ETF was filed.

You may also like: Shiba Inu: SHIB On Track To Claim $0.00005, Here’s When?

XRP Starts To Rally?

Cryptocurrency market has a small correction. Bitcoin (BTC), however, is experiencing significant resistance around the $96,000 mark. Ripple’s token XRP, however, defies the trend. Asset is up 20.3% on the charts for the day, 54.9% on the charts for the week, 102.1% on the charts of the next 14 days, and 351.6% compared to the prior month. Since December 2023, the price of this asset has also increased by 276.3%.

You may also like: Currency: What’s Happening With Indian Rupee And The US Dollar?

XRP has reached $2 for the first since January 2018 – nearly seven years ago.

How soon can The Asset hit $3?

XRP’s price is down 32% from the all-time record high of $3.40. Ripple’s December 2020 lawsuit with the SEC was a major barrier in the price of this asset. Fintech firm settled lawsuit in early this year, paying a fine of $125 million. XRP’s price may soon hit a record high after the lawsuit was settled.

CoinCodex says that XRP’s price will be corrected throughout December. According to the platform, XRP will be trading at $1.57 in December 2024. A drop to $1.57 will represent a 32% decline from the current prices.

You may also like: AI Sets XRP Price For December 5, 2024

There’s also a chance that XRP may not experience a corrective move. XRP might reach a record high if the SEC accepts WisdomTree’s S1 filing. Launching 11 Bitcoin spot ETFs in the first half of this year, the asset reached a record high. We could see a pattern similar to XRP.