XRP, ETF funding 13billion dollars and Rakuten payment adoption draw attention
XRP is currently trading at 1.37 dollars. The Senate Banking Committee passed the Clarity Act, and XRP-based ETFs have 13 billion dollars in assets under management, while Rakuten’s Pay app has 44,000,000 users. These three factors are being cited as grounds for a rebound before summer.
XRP is currently trading at 1.37 dollars. At one point, it had previously traded above 3 dollars. The possibility of a rebound before summer has recently been mentioned in the market.
The U.S. Senate Banking Committee passed the Clarity Act. The bill is reported to include provisions that clarify the scope of cryptocurrency regulation. It is presented as an effort to reduce regulatory uncertainty related to cryptocurrencies.
XRP-based exchange-traded funds (ETFs) have 13 billion dollars in assets under management. Some analyses have suggested that this figure could have room to grow from 40 billion dollars to 80 billion dollars. There have been reports that inflows into ETFs have continued recently.
Rakuten has integrated XRP into its payment app, Pay. The app has44,000,000users, according to reports. Rakuten said it supports XRP payments in the app.
Some have cited these three factors to raise the possibility of a rebound. Investors are mainly watching regulatory developments, ETF fund flows, and whether Rakuten’s actual adoption of payments expands. Related disclosures and reports on fund flows will be key points to watch going forward.
Sources: The Motley Fool
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