According to the analyzes, the 2x leverage XRP fund achieved more transaction volumes than solana futures. It is stated that the majority of the transaction volume of XRP takes place in markets outside the USA and that the lack of futures market may cause problems in the approval process. At the same time, the increasing spot transaction volume and successful launch on the US stock exchanges may contribute positively to the possibility of approval for the XRP product. The date of May 22, which Sec of Grayscale, should respond to the Spot XRP file, stands out as an important time point that the market follows carefully.
Secure decision and market expectations
Bloomberg analysts said that the 2X leveled XRP fund caught higher trading volumes than solana futures. Kaiko analysis argued that XRP transactions mainly come from markets outside the USA and that the lack of the current term trading market may prevent the approval process. These opinions were supported in the following expression:
Bloomberg Analysts: The 2x leverage XRP fund shows a high process volume compared to Solana products. XRP transactions are largely in non -US markets; Lack of futures market may be an obstacle in the ETF approval process. May 22 SEC response date is considered critical.
Kaiko experts, XRP’s increase in spot trade, despite the lack of futures market may increase the chance of approval, he said. In the Deribit option market, it is observed that investors seek protection strategies due to ongoing macroeconomic uncertainties.
The SEC has to respond to Grayscale’s Spot XRP application until May 22nd. In this context, positive price movements in the market and successful 2x leverage XRP fund launch can make positive contributions to the XRP approval process. The following statement summarizes this situation:
Kaiko: Developing market dynamics and last week’s 2x XRP product launch made XRP advantageous compared to other assets.
According to reports, the current price of the XRP was reported to be approximately USD $ 2.14. The price, which increased by 12.5 %compared to the last week, performed remarkable performance despite economic uncertainties. Investors closely follow these developments.
Market commentators, European -based ETP returns and swap agreements supported by the leveled product, the risk of the spot product is lower, he says. In the following statement, this opinion was clearly expressed:
Kaiko: Thanks to European ETP returns and SWAP agreements, the reduction of spot product risk weakens approval arguments.
In the light of the information provided, developments for the XRP product and market dynamics are considered important indicators for the future approval process. Investors may be advised to closely follow the SEC’s statements, taking into account the elements such as increasing spot transaction volume and increasing price performance.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
