XRP Price Climbs Amid Anticipation For Multiple Spot ETFs This Week

• Ripple’s XRP outperformed the broader market in early morning trade on Monday.
• On Stocktwits, retail sentiment around the token trended in ‘bullish’ territory amid ‘high’ levels of chatter over the past day.
• The uptick in price and bullish sentiment comes ahead of a wave of XRP spot ETF launches scheduled for this week.

Ripple’s native token XRP (XRP) led gains among major cryptocurrencies in early Monday trading, second only to Solana (SOL), as retail traders anticipate a price boost from multiple XRP spot ETFs slated to launch this week.

XRP’s price gained 1.3% in the last 24 hours, trading at around $2.26. Retail sentiment around Ripple’s native token trended in ‘bullish’ territory with chatter at ‘high’ levels over the past day.

Spot ETFs Position XRP For Institutional Demand

The uptick and bullish sentiment come ahead of a wave of XRP spot ETF launches scheduled for this week. Franklin Templeton is expected to debut its XRP spot ETF (EZRP) on Tuesday, with Bitwise set to follow on Thursday. 21Shares plans to launch its own XRP spot ETF between November 21 and November 22, depending on final listing arrangements. 

The bullish sentiment is also supported by Canary Capital’s spot XRP ETF (XRPC), attracting $243 million after its first week of going live despite broad market weakness. According to data from SoSoValue, Bitcoin (BTC) and Ethereum (ETH) spot ETFs have mostly seen outflows this month.

XRP Stands Strong Amid Crypto Dip

While the crypto market has faced widespread losses, XRP has held up relatively well, registering the smallest drop over the past 30 days. XRP’s price fell 6.4% compared to Bitcoin’s loss of 11.7% and Ethereum’s 12.6% dip. Over the past year, XRP’s price has more than doubled.

The altcoin hit an all-time high of $3.65 in July. It’s currently trading nearly 40% below that record.

Read also: Bitcoin Price Struggles While Crypto Liquidations Top $500 Million – Analyst Flags Retail Pressure

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