Ripple (XRP) posted a small gain among altcoins amid last week's market rally, but among the many cryptocurrencies with potential, is XRP an altcoin to watch in September?
XRP retreated a few percent from its weekly gains, but is up 7.2 percent in seven days after a wildly volatile second half of the week.
The RippleNet token, which had a market capitalization of more than $30 billion over the weekend, surged in value on cryptocurrency exchanges last Thursday to over $0.57 per token.
the next day, however, bitcoin, ether and other major cryptocurrencies saw similar gains on the open market, while news of Grayscale's new #XRP trust product blew the roof off the #Ripple market.
So is there more to this Ripple rally, or will this wave spill over to other altcoins in September? Here are three bullish and two bearish indicators for XRP in September.
crypto asset manager Grayscale, a Park Avenue-based private equity firm specializing in private investments for high net worth individuals (HNWI), announced Thursday that it is offering an opportunity for investors to access XRP through its first XRP trust product in the United States.
We believe the Grayscale XRP Trust will give investors the opportunity to access a protocol that has significant real-world applications.
By facilitating cross-border payments that take only seconds to complete, XRP has the potential to transform outdated financial infrastructure.
The news has excited the XRP army on social media, who see it as a step toward creating an XRP #ETF in the U. S. Greyscale played a key role in bringing the first bitcoin ETF to market by suing and winning the SEC.
The difference between an ETF and a trust is that the number of shares issued by an ETF can vary depending on demand. In addition, ETFs are traded throughout the day. Trusts have a fixed number of shares and trade once a day at market close.
Another opportunity for Wall Street investors to participate in the Ripple economy is very good news for the price of XRP.
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