Key Notes
- Alongside, Bitcoin, Solana and Chainlink, XRP has found a place in the list of trending crypto.
- Santiment cited XRP ETF launch, price volatility and other factors as catalysts for this feature.
- XRP price is down 2.15% and pegged at $2.13.
Ripple-associated coin XRP XRP $2.06 24h volatility: 7.3% Market cap: $123.75 B Vol. 24h: $4.75 B found a place in the list of trending digital assets published by blockchain analytics platform Santiment.
It appears that the recent debut of Canary Capital’s XRP ETF (XRPC) and several discussions about its price movements led to it featuring on this list.
XRP ETF Launch Stirs XRP Ecosystem
Santiment took to X on November 19 to list out a few trending digital currencies and the reason for their hype.
The list included Bitcoin BTC $89 407 24h volatility: 4.1% Market cap: $1.78 T Vol. 24h: $72.86 B , Solana SOL $131.9 24h volatility: 5.8% Market cap: $73.16 B Vol. 24h: $5.49 B , 1Inch [NC], Chainlink LINK $12.94 24h volatility: 6.3% Market cap: $9.02 B Vol. 24h: $736.78 M and XRP.
Each of these cryptocurrencies is trending for different reasons that are quite unrelated.
XRP has suddenly become a global sensation, with multiple discussions surrounding the launch of spot XRP Exchange Traded Funds (ETFs).
Last week, five spot XRP ETFs officially appeared on the Depository Trust and Clearing Corporation (DTCC). A few days later, Canary Capital rolled out the XRPC , which raked in $58 million in day-one trading volume.
With this magnitude of inflow, XRP successfully outranked Solana . The ecosystem has also welcomed the first XRP option income ETF by Amplify, per the Santiment post.
Shortly after the ETF launch, XRP price went to $2.52, but has since seen some fluctuations that erased its monthly gains. XRP is currently trading at $2.13, with a 2.15% dip over the last 24 hours.
XRP’s potential use in pension funds and settlement mechanisms is another reason why it featured on Santiment’s list.
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