The American company Proshares, investment fund manager, will launch three ETFs on April 30 based on the futures of the XRP cryptocurrency (XRP), issued by Ripple Labs. The funds carry the names of Ultra XRP ETF, Short XRP ETF and Ultra Short XRP ETF. The first of them has a 2x leverage over the price of XRP; The second is an inverse «ETF» that rises in price when XRP drops, and vice versa; And the third follows the same dynamic as the second, but with a leverage of 2x. As cryptootics has reported, There is already an ETF of XRP futures in the US market. There is also an ETF al Caé (or spot) in Brazil. In addition, Proshares herself has issued a request to launch an XRP ETF in cash in the United States. This order is waiting for the approval (or rejection) of the Bag and Securities Commission (SEC). While all this happens, Ripple cryptocurrency has positive behavior. As can be seen in the following image, XRP has risen more than 7% in the last week:
XRP price during the last 7 days. Source: Coinmarketcap. Beyond the fundamental factors, The XRP price (like that of all Altcoins) It is largely determined by what Bitcoin does (BTC). For XRP to continue its climb it will be important that Bitcoin also stays up. At the time of this publication, Bitcoin is traded for a price close to $ 94,000, as shown by the cryptootic calculator.
