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XRP price gains as Purpose announces spot ETF launch
- XRP price surged as Purpose Investments is launching a spot XRP ETF on the Toronto Stock Exchange on June 18, 2025.
- XRP saw a nearly 7% increase as cryptocurrencies rose alongside Wall Street on investor confidence in a possible Israel-Iran peace deal.
- The announcement of Purpose XRP ETF led to a slight jump in XRP price, with daily volume up by 110% to over $3.45 billion.
- Purpose Investments secured approval to launch the Purpose XRP ETF, set to trade under the ticker XRPP.
- The XRP ETF launch in Canada precedes potential approvals in the United States, with the SEC nearing deadlines for Ripple's token and others.
- Analysts believe spot crypto ETF launches could drive significant price gains for XRP and other cryptocurrencies.
- XRP has had significant price growth, hitting highs of $3.30, with predictions of surpassing previous all-time highs.
- Network growth indicators show bullish signs for XRP, with increased whale activity and daily transactions.
- Data from Coinglass indicates a rise in open interest in XRP, currently exceeding $4.34 billion.
- XRP's price potential is influenced by factors like regulatory developments, network growth, and ETF approvals.
- The Purpose XRP ETF launch is seen as a positive development that could further boost XRP's price in the market.
- Investor interest in cryptocurrencies, including XRP, remains high as market indicators show bullish trends.
- XRP's performance, tied with broader market sentiments, reflects optimism in the cryptocurrency sector.
- The Purpose XRP ETF approval reinforces Canada's role in fostering a regulated digital asset ecosystem.
- The announcement of the Purpose XRP ETF and XRP's price surge align with broader positive market sentiment.
- XRP's price trajectory is closely monitored amid ongoing regulatory discussions and market developments.
- Overall, XRP's recent price gains are bolstered by the news of the upcoming Purpose XRP ETF launch and positive market outlook.
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