$XRP is heating up today, and you won’t believe why! The price soared to $2.69, posting a 5% gain in just 24 hours—far outpacing the crypto market’s modest 1.6% rise to $3.23 trillion. What’s driving it? Brazil just made history!
A Spot XRP ETF Was Approved in Brazil
On Feb. 19, Brazil’s CVM approved the world’s first spot XRP ETF, the HASHDEX Nasdaq XRP Index Fund. It’s still in pre-launch mode with no set start date, but for a nation of over 200 million with a growing crypto appetite, this is a game-changer—no wallet stress, just easy XRP access.
US ETF Hopes Are Rising
In the US, the SEC is fielding XRP ETF applications from CoinShares, Bitwise, 21Shares, and Grayscale. They’ve acknowledged Grayscale’s Feb. 13 filing and 21Shares’ listing request. Polymarket odds climbed from 78% to 80% since Feb. 17. Bloomberg’s ETF analysts see a 65% chance of approval in 2025, and JP Morgan predicts billions could flow in. Brazil’s move sparked this—XRP jumped from $2.51 to $2.74 today, Feb. 20. The market’s buzzing!
$XRP Open Interest Jumps Nearly 20%
Traders are piling in! Open Interest rose 18% in a week, from $3.48 billion to $4.11 billion, with a 6.7% spike in a day, per CoinGlass. Funding rates turned positive at 0.0041%—more traders are betting on a rise. This surge is fueling the rally!
XRP Price Eyes 26% Gains
XRP’s holding $2.70 as support with the 50-day SMA. Bulls are aiming for $2.80—secure that, and $3.40 is next, a 26.5% gain. Caution: RSI slipped from 54 to 51 today. A drop below $2.55 could send it to $2.30. Bulls or bears—who’ll take it? Stay tuned!
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