Asia’s First XRP Fund Drops—$2.24 Breakout Coming?

Quick overview

HashKey Capital just dropped the first XRP Tracker Fund in Asia, so professional investors can now get exposure to XRP without having to own the token directly.

The fund is flexible with monthly subscriptions and redemptions and accepts cash and in-kind contributions.

Ripple, the company behind the XRP Ledger, is the anchor investor, adding credibility and showing its long term commitment to bridging traditional finance and Web3. For institutional investors looking to dip their toes in crypto, this is a big deal.

HashKey x Ripple: A New Institutional Power Couple

This isn’t a one off – it’s the start of a bigger partnership between HashKey Capital and Ripple. The plan is to combine Ripple’s blockchain smarts with HashKey’s asset management expertise to create more institutional grade investment products for cross border payments, DeFi and enterprise blockchain.

It’s timely as interest in digital assets is growing across the Asia-Pacific region. Institutions want in – they just need the right tools to get there.

XRP Price Outlook: Can Bulls Hold the Line at $2.05?

XRP is at $2.06, right above the $2.05 support zone where a long term trendline meets past consolidation levels. The 50 period EMA is acting as resistance at $2.089.

The RSI is at 43.37 which means XRP might be a bit oversold. That could be a short term bounce if buyers step in.

Trade Idea:

• Entry: Wait for a confirmed break above $2.11 and hold (a reclaim of the EMA)

• Target 1: $2.18

• Target 2: $2.24

• Stop Loss: Place it below $2.00 to manage risk

For this trade to work XRP needs to hold the $2.05 level and break above $2.11 with volume. If that happens we could see a quick move to the next resistance zones.

Why It Matters

This could be a big deal for XRP in institutional finance. If more funds like the XRP Tracker Fund come out it won’t just change how investors get access to the asset – it could change XRP’s entire market dynamics.

For now watch the charts and the headlines. If support holds and institutions get in XRP might be more than just a short term bounce.

ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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