On-chain analytics platform feeling notes that there is a notable bullish bias towards XRP and Bitcoin.
On-chain analytics platform feeling notes that there is a notable bullish bias towards XRP and Bitcoin.
Bitcoin had its historic moment last week after the SEC gave the green light to approval of exchange-traded funds that track the largest cryptocurrency after a decade-long fight.
In the following days, ETF-related discussions increased in the market as enthusiasm grew. Santiment noted that during that weekend, sentiment towards large-cap assets remained at extremely optimistic levels, and the spotlight was focused on them following the ETF approvals.
Therefore, optimism and discussion rates increased for major cryptocurrencies. This is as traders discuss the possibility of ETH or XRP ETF approvals following Bitcoin’s.
According to Santiment, XRP sentiment and discussion rate subsequently rose to the highest level since May 2023. That’s when social discussions about XRP exploded, just weeks before the July 11 ruling, which determined that a value.
XRP ETF Speculation Sparks Rumors
The XRP community is still excited about BlackRock CEO Larry Fink’s comment about the possibility of an XRP exchange-traded fund (ETF). When asked about an XRP ETF during a recent Fox Business interview, Fink responded, “I can’t talk about that.”
In an interview with Bloomberg, Steve McClurg, co-founder of Valkyrie Funds, also speculated about Ethereum and XRP ETFs following the approval of Bitcoin.
According to Lark Davis, also known as Crypto Lark, an XRP ETF could be on the horizon, given the momentous verdict in the Ripple SEC lawsuit that concluded that XRP was not a security.
At the time of writing, the XRP price was not reacting as much to the buzz sparked by the ETF’s optimism. XRP is currently trade to $0.57, an increase of 0.26% in the previous 24 hours. After recovering from lows of $0.554 on January 12, XRP has risen steadily, reaching highs of $0.579 in today’s trading session.
