- Institutional demand rises as Franklin and Grayscale launch new XRP ETFs this week.
- Bitwise leads trading with strong volume, remaining the top liquidity center for XRP exposure.
- Grayscale lags competitors while XRP price tests resistance near $2.20 with key support below.
The launch of Franklin Templeton’s and Grayscale’s spot XRP exchange-traded funds on Monday marked a significant expansion of institutional access to the digital asset. Canary and Bitwise XRP ETFs launched last week. With six XRP ETFs now listed across major U.S. venues, the market is entering a period of measurable demand from traditional finance.
Trading activity was strong throughout the session. XRP closed the week near the $2 level and extended gains intraday, reaching as high as $2.27. The move follows several weeks of corrective pressure after XRP’s $3.45 peak earlier this year.
A Solid Close for New XRP Funds
Bitwise’s product led the group with 1,452,944 shares traded, representing $36,599,659 in volume.
The firm has maintained a strong lead since its opening session last week and continues to act as the primary liquidity center for ETF-based XRP exposure.
Related: XRP Price Prediction: XRP Price Pressures Ease as ETF Approval Adds New Interest
Franklin Templeton and Canary Follow
Franklin Templeton’s XRP ETF finished in second place with 965,203 shares traded for $23,666,777, reflecting steady inflows throughout the day. Canary’s XRPC ETF followed with 783,825 shares worth $18,772,608.
Grayscale Starts Soft
Grayscale’s newly launched GXRP ETF recorded a slower debut, closing with 152,566 shares traded for $6,717,480, far behind competitors despite significant expectations leading into the launch.
XRP Price Prediction
XRP is entering a critical phase, with mixed signals appearing across the charts. Analysts warn that a large bearish divergence is still intact. Support sits firmly around $2.05 to $2.07 after XRP reclaimed that zone. Immediate resistance is close to $2.20, where the price is currently trying to break through.
Source: TradingView
If momentum continues, the next major ceiling lies between $2.30 and $2.40. A clean move above that range would open the door to a push toward $2.60, which remains a key upside target for bulls.
Expectations of a December Fed rate cut and eased US-China tensions could help XRP’s price. With the Fed likely to lower rates, investors may take more risks, boosting demand for digital assets. Positive US-China updates also reduce trade worries, removing a major obstacle.
Related: Bitcoin Sits Above the Crucial $80,000 Level: What Should Investors Expect?
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Source: https://coinedition.com/xrp-eyes-2-60-resistance-as-franklin-templeton-bitwise-etf-volume-soars/
