XRP has recently secured a notable position within an ETF that targets top cryptocurrencies, a move initiated by Donald Trump’s Truth Social. This development has generated a positive sentiment in the market for the altcoin, which has been on a bullish trajectory since the announcement was made.
XRP Integrated into Trump’s Truth Social ‘Crypto Blue Chip ETF’
Trump’s Truth Social has filed a proposal for a Crypto Blue Chip ETF that includes XRP alongside established players such as Bitcoin, Ethereum, Solana, and Cronos. This marks a significant moment as it offers investors a direct route to gain exposure to XRP through an index-based fund.
The ETF filing indicates that XRP will constitute roughly 2% of the fund’s total assets, the smallest allocation among the featured cryptocurrencies. This comes on the heels of the SEC giving the green light to Grayscale’s Digital Large Cap fund, which also holds XRP. Within the community, member Pumpius remarked that this could mark a turning point for what he believes has been an “underestimated” asset.
Pumpius further asserted that Donald Trump is paving a path for both institutional investors and everyday individuals to enter the XRP space. He believes this filing adds legitimacy to XRP, especially after enduring challenges related to the Ripple SEC lawsuit. He suggested that this could be a game-changer for the altcoin market, which has seen its share of skepticism.
Following the filing, XRP’s valuation has seen a significant spike, overcoming the $2.30 resistance benchmark. Analyst CasiTrades highlighted that various factors are fueling positive momentum in the XRP market. With this breakthrough above $2.30, she forecasts that XRP could quickly climb to about $2.69, with a potential stretch to $3.04—an important Fibonacci retracement level.
Upcoming XRP ETFs and Their Potential Impact
In addition to this development, XRP may also benefit from several other ETF launches expected soon. Influencer Nick recently pointed out that ProShares is awaiting SEC approval for its futures ETFs, with a deadline set for July 14. Observers are optimistic about the likelihood of approval, especially given the SEC’s increasingly favorable stance towards cryptocurrencies.
ProShares has proposed an Ultra ETF, a Short ETF, and an Ultra Short ETF—each one designed to provide indirect exposure to XRP. Notably, the Ultra XRP ETF has recently been listed on the Depository Trust and Clearing Corporation (DTCC), enhancing the anticipation for approval.
Moreover, the Turtle Capital 2xLong XRP Daily Target ETF is also making headlines, with the asset manager’s filing set to take effect this month. Meanwhile, Volatility Shares has submitted proposals for both XRP-related ETFs and 2x ETFs, which are also on track to commence trading shortly.
At present, XRP is trading around $2.42, reflecting an increase of over 5% in the past 24 hours, according to CoinMarketCap. This upward trend underscores the growing optimism around XRP as it integrates more deeply into mainstream financial instruments.
