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Big news for cryptocurrency fans— the first $XRP Exchange-Traded Fund (ETF) is set to launch in the United States tomorrow. This new ETF, called XXRP, will give investors a way to trade $XRP with a 2x leverage, meaning it aims to double the returns based on $XRP’s daily price changes.
This launch comes at a time when more investors are looking for ways to invest in altcoins like $XRP. There are even more $XRP ETFs waiting for approval from the SEC, along with ETFs for other cryptocurrencies like Solana.
The excitement also comes after some good news for $XRP’s legal troubles. The Ripple case, which has been ongoing for years, seems to be almost over. Ripple has agreed to pay a $50 million fine, and the company can now move forward. This has helped boost confidence in $XRP and its related financial products.
John Deaton, a key figure in the Ripple case, reflected on how much has changed over the past four years. He recalled how he fought to get $XRP holders involved in the legal process, which helped shape the court’s decision. The judge ruled that $XRP is not a security, which was a huge win for the crypto community.
“Most lawyers laughed at my motion, although, tbh, I didn’t blame them or even get mad. It had never been done before. I knew Judge Torres would never force the SEC to sue, at the time, 12,600 $XRP holders (which grew to 75K) but man, did it send the right message,” he said.
The launch of the XXRP ETF signals not just a new investment option but also a turning point in the acceptance and integration of cryptocurrencies into traditional financial markets. “And today, this is like the 20th $XRP related ETF. Never say you can’t make a difference,” he concluded.