XRP has
surged nearly 7%, making it the strongest-performing cryptocurrency over the
past 24 hours. This rally is driven by news of ongoing work on the world’s
first spot XRP ETF, set to debut soon in Brazil.
Let’s take
a closer look at why XRP’s price is rising, the latest XRP news, and what
analysts predict for XRP in 2025 and beyond.
On February
19, 2025, XRP’s price
surged, closing at $2.7408, up from an opening price of $2.5590, adding 7% to
its value in a single session. The primary reason for this increase was the
announcement of Brazil launching the world’s first spot XRP ETF, named HASHDEX
NASDAQ XRP FUNDO DE ÍNDICE.
Você compraria um ETF de #XRP? pic.twitter.com/wlW4zgqW4v
— Cointelegraph Brasil (@BrCointelegraph) February 19, 2025
Today,
Thursday, February 20, 2025, the price of XRP is undergoing a slight
correction, dropping 2% to $2.68. However, it remains close to its November
highs.
XRP price today. Why is XRP going up? Source: CoinMarketCap.com
Impact on XRP Price
The price
movement on February 19, 2025, was evident from historical data:
- Open Price: $2.5590
- High: $2.7440
- Low: $2.5174
- Close: $2.7408
- Volume: 5,175,151,198
Over the
past 24 hours, XRP has risen by 4.6%, outperforming its competitors. Bitcoin is
currently priced at just under $97,000, gaining 1.2% over the same period.
Ethereum (ETH) is trading at $2,700, up 0.5%. At the moment, none of the top
tokens are seeing larger gains than XRP.
XRP News: Brazil to Launch
First Spot XRP ETF
The new
ETF, approved by the Comissão de Valores Mobiliários (CVM), Brazil’s securities
regulator, is managed by Genial Investmentos and will be listed on Brazil’s B3
exchange. This move is significant as it provides a regulated investment
vehicle for XRP, potentially attracting more institutional investors and
increasing demand.
The ETF,
approved by Brazil’s Comissão de Valores Mobiliários (CVM), marks a historic
moment for XRP. Details include:
- ETF Name: HASHDEX NASDAQ XRP FUNDO DE
ÍNDICE - Regulator: Comissão de Valores
Mobiliários (CVM) - Approval
Status: Approved - Fund
Administrator: Genial Investmentos - Trading
Exchange: Brazil’s B3 exchange - Official Start Date: Expected to be released soon
- CVM Website for Fund Details:CVM Fund
Details
Silvio Pegado, Managing Director of Ripple in Latin America
“XRP is a
natural choice for an ETF due to its real-world utility, growing institutional
demand and its overall market cap,” Silvio Pegado, Managing Director of Ripple
in Latin…
