XRP (XRP) fell 7.58% in the last 24 hours

Gate News Bot news, December 1, according to CoinMarketCap data, as of the time of writing, XRP (XRP) is currently priced at $2.03, down 7.58% in the last 24 hours, with a high of $2.26 and a low of $2.03. The 24-hour volume reached $3.414 billion. The current market capitalization is approximately $122.636 billion, a decrease of about $10.054 billion compared to yesterday.

The XRP Ledger (XRPL) is a decentralized public blockchain led by a community of global enterprises and developers, aimed at solving problems and creating value. With over 10 years of error-free operation, the XRPL offers simplified development, low transaction costs, high performance, and sustainability. It is open-source and anyone can build on it, maintained by the community. The XRPL features powerful functionalities such as decentralized exchanges, cross-currency payments, payment channels, and multi-signatures, providing developers with a reliable infrastructure to advance their key projects.

Important news about XRP recently:

1️⃣ The XRP spot ETF products in the United States continue to expand Franklin Templeton and Grayscale's XRP spot ETF products were officially listed for trading on the NYSE Arca on November 24. The Franklin XRP Trust has a trading code of XRPZ and an annual fee rate of 0.19%, with plans to waive fees on the first $5 billion in assets until May 31, 2026. The trading code for Grayscale's XRP spot ETF is GXRP. The launch of these ETF products provides more avenues for institutional investors to participate in the XRP market and is expected to attract more capital inflow.

2️⃣ XRP ETF had a strong performance on its first day XRP spot ETF performed brilliantly on its first trading day. According to data, the combined inflow of funds for Franklin Templeton's XRPZ and Grayscale's GXRP reached $164 million on the first day, making it one of the strongest altcoin ETFs in recent years. This data shows that institutional investors have a strong demand for regulated exposure to XRP, injecting new momentum into the XRP market.

3️⃣ The open interest in the futures market has significantly decreased Since the beginning of October, the open interest of XRP futures has fallen from 1.7 billion XRP to 700 million XRP, a decrease of 59%. At the same time, the funding rate has also dropped from about 0.01% to 0.001%. This phenomenon indicates a structural stagnation in market speculation on XRP, which may affect short-term price fluctuations.

From a technical perspective, XRP is currently fluctuating around a price of $2.03 and may face further retracement pressure in the short term. On the fundamental side, the continuous innovation and listing of ETF products provide positive factors for XRP, but the cooling of the futures market may suppress short-term speculative demand. Investors need to closely monitor the overall market trends and the potential impact of institutional fund flows on the price of XRP.

This message is not an investment suggestion; investors should be aware of market volatility risks.