XRP prices increase with a new ETF approach Ripple ETF to $ 250 million star-news.press/wp

XRP recorded its largest weekly march in months, as it rose about 80 % of its lowest levels in April to reach the highest level in five months on Friday. Rally reflects a wider power through the encryption market, where investors accumulate in risk assets amid a new organizational momentum and record running in Bitcoin.

The XRP symbol (XRP) jumped to $ 2.9695 on July 11, its highest level since March 2, driven by three main factors: Bitcoin’s (BTC) to increase to the highest level ever at 118,300 dollars, accelerate flows in new investment funds, ETF, and a set of renewable investment in the foreground. The law of clarity.

In conjunction with bullish technical signals-including the outbreak of a triangular style for months-traders look at the return of the peak of the currency of $ 3.3930.

TEUCRIUM 2X Daily Daily Daily ETF (XXRP) that was recently launched by attracting investors, increased their assets to $ 248 million. It has seen flows every week since its launch in April, and its daily size has increased significantly.

Continuous flows rises to XXRP noticeably due to their costs. Unlike most of the circulating investment funds, whose expenses are less than 0.50 %, the box is 1.89 %. This means that the investment of $ 10,000 costs about $ 189.

XXRP ETF aims to compensate for high fees by providing twice the Ripple price return. For example, the XRP price has jumped by 24 % in the past five days, while XXRP has jumped 51 % in the same period.

The price reaction was also on the Garlinghouse offer in Washington, where politicians held a hearing on the upcoming clarity law. Clarity, a draft law under the next encryption week, aims to separate encryption roles between the Securities and Stock Exchange Committee and the commodity futures trading committee.

Technical analysis of XRP price

The Daily Chart explains that the price of the distinguished code for Ripple was a strong offer this week, moving over the descending trend line that connects the highest fluctuations since January. The upper side of the triangle style was.

The moving averages formed for 50 days and 100 days a bullish intersection. In addition, the average trend index rose to 25, indicating that the trend is strengthened.

Therefore, the most likely scenario is the scenario in which the currency continues to rise, as the next main goal is the highest level from the year to the date of $ 3.3930.