XRP Set to Run Faster Than Light with ProShares XRP ETF
The U.S. could go live with ProShares’s XRP ETF with 2X leverage based on futures it plans to release this week.
Quick overview
- ProShares is set to launch a 2X leveraged XRP ETF based on futures, with a target date of April 30, 2025.
- The SEC did not oppose the ETF during the review period, allowing ProShares to proceed with the launch.
- XRP has shown bullish momentum, trading above $2 and closing at $2.24, with potential to retest highs of $2.50 and $3.00.
- Hashdex plans to launch the XRPH11 ETF in Brazil, aiming to enhance compliant crypto investment opportunities and democratize cryptocurrency investing.
Live XRP/USD Chart
The U.S. could go live with ProShares’s XRP ETF with 2X leverage based on futures it plans to release this week. Earlier last month, ProShares claimed it would set the deadline for launching the product around the 30th of April.
The company did not face formal opposition from the SEC during the review period, so it was most likely cleared to proceed with the launch on the mentioned date.
As noted in the filing, the ETFs will take effect unless the regulatory body states otherwise, meaning they have not received the same endorsement as spot products from the SEC. A stipulation cornered proposed rule for ETFs is the lack of immediate effectiveness based on the filing choice. The filer is actively choosing April 30, 2025, as the preselected date.
XRP has traded above its 200-day Exponential Moving Average on a $2 support line. Additionally, XRP rallied over 8% and closed above the daily resistance at $2.23 on Sunday. Now(on Monday), the currency is hovering around $2.24.
Should Ripple continue with the uptrend, the bullish trend will be extended to retest the March 24 high of $2.50 before moving up to $3.00.
The RSI indicates bullish momentum above the neutrality mark of 50.
Asset manager Hashdex revealed that they would launch XRPH11, or what they claimed to be “the world’s first XRP ETF.” This ETF, which is registered in Brazil, is expected to strengthen the crypto investment domain in the country while also helping Hashdex propel the industry forward.
The company duo went on explaining the pros of the ETF for the exchange, claiming that:
“Hashdex is enabling compliant and regulated investment into one of the leading digital assets on the XRPH11 ETF, designed for fast and cost-effective international transactions.”
Brazil has now become the country with the most ETFs launched by Hashdex, given this was the ninth for XT and 33 worldwide. Furthermore, these changes are meant to increase the level at which investment in compliant crypto ventures is available to users in countries where rules are.
The company also underlined its ongoing goal to change the investment landscape:
“Our goal at Hashdex is still to democratize cryptocurrency investing by providing regulated, safe, and easily accessible solutions.
This approach upholds investor protections and regulatory control while promoting a larger trend toward crypto-integration into conventional financial systems.”
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