XXRP ETF Debuts With $5 Million Volume, XRP Price Surges 10%

Teucrium Investment Advisors launched the 2x Long Daily XRP ETF (XXRP), marking a significant milestone as the first leveraged XRP product in the United States. The ETF debuted with an impressive $5 million in trading volume on its first day, positioning it among the top 5% of all ETF debuts. This robust performance underscores a growing institutional interest in higher-level XRP investment products. The ETF aims to deliver 2x returns on XRP’s daily price movements using swaps and exposure to European XRP ETPs, thereby avoiding direct XRP network custody while closely tracking its price performance. The ETF launched with a 1.85% expense ratio, drawing significant attention and indicating strong demand.

Teucrium’s CEO, Sal Gilbertie, described the response to the XXRP ETF as “overwhelming,” attributing the quick filing and approval process to a more crypto-friendly regulatory environment. This launch is part of Teucrium’s strategic shift from agricultural ETFs to crypto-linked financial products, positioning the company as a serious player in the crypto market. Plans are already in motion to launch an inverse version of the XXRP ETF, providing investors with the ability to benefit from both bullish and bearish XRP price movements. This expansion, combined with recent legal victories for Ripple and speculation around a future XRP spot ETF, adds momentum to XRP’s broader institutional narrative. Teucrium is betting that XRP is transitioning from a retail-focused asset to one that is increasingly attractive to institutional investors.

The launch of the XXRP ETF has sparked considerable interest and speculation within the cryptocurrency community, particularly regarding its potential impact on the price of XRP. Following the ETF’s debut, XRP’s price surged past $2.10, driven by increased investor interest and the potential for further gains as more investors seek exposure to XRP through the leveraged ETF. The $5 million debut volume of the XXRP ETF has been seen as a strong indicator of the market's appetite for XRP-related investment products. However, some analysts have warned that the recent price surge could be followed by a sell-off as investors take profits from their positions. This warning comes as the XRP sell-off continues under $2, with the XXRP ETF's $5 million volume on day one adding to the market's volatility.

Despite these concerns, the launch of the XXRP ETF has been seen as a positive development for the XRP market. The ETF provides investors with a new way to gain exposure to XRP, and its success on day one has demonstrated the market's appetite for leveraged XRP products. As the ETF continues to gain traction, it could potentially drive further gains in the price of XRP. Some analysts predict that the cryptocurrency could skyrocket to $5 in the coming months. However, it is important to note that these predictions are based on analyst forecasts and should be taken with caution. The actual impact of the XXRP ETF on the price of XRP remains to be seen, and investors should exercise caution when trading in the volatile cryptocurrency market.