XRP Price: Consolidates Above $2 While Waiting for Fed Decision

TLDR

• 21Shares has reduced its XRP ETF management fee from 0.50% to 0.30% and filed its fifth amendment with the SEC ahead of launch under ticker “TOXR” on Cboe.
• The fund will use Coinbase Custody, Anchorage Digital Bank, and BitGo Trust as custodians, with BNY Mellon handling cash custody and administration.
• Total assets under management for all spot XRP ETFs have reached nearly $1 billion, with cumulative inflows exceeding that threshold since launch.
• Franklin Templeton’s XRP ETF currently offers the lowest management fee at 0.19% with the longest fee waiver period among all issuers.
• XRP price is trading in a range between $2.00 and $2.08, with trading volume down 8% as traders await the Federal Reserve’s rate decision.

21Shares has filed its fifth amendment with the U.S. Securities and Exchange Commission as the company prepares to launch its XRP exchange-traded fund. The issuer has revised its management fee downward from 0.50% to 0.30% in the latest filing.

The 21Shares XRP ETF will trade under the ticker symbol “TOXR” on the Cboe BZX Exchange. The fund received approval from the exchange for listing last month after becoming auto-effective with a Form 8-A filing.

The trust aims to provide exposure to XRP by tracking spot prices from the CME CF XRP-Dollar Reference Rate pricing benchmark. Three custodians will handle the fund’s XRP holdings: Coinbase Custody, Anchorage Digital Bank, and BitGo Trust.

BNY Mellon will serve as the cash custodian, administrator, and transfer agent. Foreside Global Services has been named as the marketing agent for the trust.

The issuer previously disclosed an initial seed purchase of 20,000 shares at $25 per share by 21Shares US LLC. The company has retained the delaying amendment while it waits for final regulatory clearance.

Competition Among XRP ETF Issuers

21Shares will join other issuers in the XRP ETF market, including Canary, Grayscale, Bitwise, and Franklin Templeton. Franklin Templeton’s XRP Exchange-Traded Fund currently has the lowest management fee at 0.19%.

Franklin Templeton also offers the longest fee waiver period compared to other issuers. Bitwise, Franklin Templeton, and Grayscale have all announced fee waivers to attract investors.

The total assets under management across all spot XRP ETFs has reached approximately $1 billion. This represents the fastest early adoption pace for any altcoin ETF product.

Institutional demand continues to flow into these products despite muted retail sentiment. Cumulative inflows have exceeded $1 billion since the ETFs launched.

XRP Price Consolidates Above $2

XRP is currently trading between $2.05 and $2.08 ahead of the Federal Reserve’s policy meeting. The 24-hour low and high are $2.05 and $2.12 respectively.

Trading volume decreased by 8% over the last 24 hours. This decline suggests reduced interest among traders as they wait for U.S. jobs data and the Fed’s rate decision.

The token defended the $2.00 psychological support level during the session. A volume spike of 251% above the 24-hour average occurred when the price briefly touched $2.00 before rebounding.

Three attempts to break above $2.08 resistance failed during the trading session. The price consolidated near $2.06 to $2.08 by the session close.

Derivatives markets show mixed activity in recent hours. Total XRP futures open interest fell nearly 2% to $3.62 billion in the last 24 hours.

Four-hour XRP futures open interest climbed 0.15%. Open interest dropped 0.30% on CME while increasing 0.53% on Binance and 0.62% on OKX.

XRP continues to form higher lows on intraday charts. A clean break above $2.11 would be needed to trigger momentum toward the $2.20 to $2.26 supply zone.

The post XRP Price: Consolidates Above $2 While Waiting for Fed Decision appeared first on CoinCentral.