By Nermeen Nabil Khear 
The past several days have witnessed some important developments surrounding Ripple. In the following lines, we will explore them and touch upon the latest price dynamics of its native token.
The first XRP ETF in the US is on the way
Earlier this week, asset manager Teucrium Investment Advisors revealed plans to launch the Teucrium 2x Long Daily XRP ETF (ticker: XXRP). The investment vehicle received the necessary green light from the New York Stock Exchange and is expected to go live today (April 8).
It is a 2x leveraged product designed to give traders double the daily price movement of the underlying asset. The company issuing the ETF explained that it is suitable for investors with “a short-term high-conviction view on XRP prices.”
Teucrium also outlined that such developments could influence supply and demand for Ripple’s cross-border token, but warned that usage growth is not guaranteed.
“Declining usage could heighten volatility or lower XRP’s price, negatively affecting the Fund,” it concluded.
Meanwhile, investors are waiting for the launch of a spot XRP ETF in America. The companies willing to introduce such an investment vehicle include Grayscale, Bitwise, 21Shares, Franklin Templeton, and others.
Rumors of a potential partnership with Cardano
Several hours ago, Ripple uploaded a short video on X, predicting that tokenization could reshape global finance in the next years. It touched upon some important factors that may play a role in reaching that goal, but one particular element grabbed the attention of industry participants.
The clip starts with a glimpse of Cardano’s logo, which led some to speculate that the two entities might soon announce a collaboration.
This is not the first time the two have been rumored to shake hands. Towards the end of last year, Ripple’s CEO – Brad Garlinghouse – and Cardano’s founder – Charles Hoskinson – exchanged kind words. Shortly after, the latter hinted that Cardano might integrate Ripple’s stablecoin – RLUSD – into its system.
“We’ve already had a call with the RLUSD people. We are actively talking,” he stated at the time.
XRP price predictions
The native token of Ripple witnessed a major decline at the start of the business week when the entire crypto market nosedived. XRP plummeted to approximately $1.65, a level last observed in November 2024. Nonetheless, the price rebounded from the local bottom and currently stands at around $1.87 (per CoinGecko’s data).
Many analysts noted the revival, making interesting predictions for the short term. The X user CRYPTOWZRD believes that moving above the $2 resistance level could ignite a rally to as high as $2.80.
“However, if Bitcoin continues to cause trouble, XRP may still decline to the $1.5160 daily support target,” they added.
For their part, Crazy Buddha thinks the recent market pullback “is just setting up for a stronger rally.” The analyst claimed that XRP “is currently forming a triangle consolidation pattern, and a trend shift is about to happen.”
Those willing to explore additional forecasts can take a look at our dedicated article here.
The massive whale transfer
Last but not least, we will mention the actions of an unknown large investor who recently moved 200 million XRP (worth over $370 million at current rates) to Binance.
Such transfers generally indicate that the whale is preparing to cash out, which could increase the selling pressure and negatively impact the asset’s price.
The post Ripple (XRP) News: April 8th appeared first on CryptoPotato.
XRP rebounded from the latest crash, briefly spiking above $1.90. Crypto Bits, Crypto News, XRPBTC, XRPUSD, Crypto ETF, Ripple, Ripple (XRP) Price, United States
This articles is written by : Nermeen Nabil Khear Abdelmalak
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