XRP (XRP) has risen 7.56% in the last 24 hours.

Gate News Bot news, December 3rd, according to CoinMarketCap data, as of the time of writing, XRP (XRP) is currently priced at $2.17, with a rise of 7.56% in the last 24 hours, reaching a high of $2.26 and a low of $1.99, with a 24-hour volume of $4.403 billion. The current market capitalization is approximately $130.98 billion, an increase of $9.203 billion compared to yesterday.

XRP Ledger (XRPL) is a decentralized public blockchain led by a global community of businesses and developers, designed to solve problems and create value. With over a decade of error-free operation, XRPL offers simplified development, low transaction costs, high performance, and sustainability. It is an open, transparent, and decentralized platform where anyone can build applications. XRPL features high performance characteristics, capable of processing thousands of transactions in seconds, with transaction costs of just a fraction of a cent, making it suitable for a wide range of blockchain use cases.

Important news about XRP recently:

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

2️⃣ XRP ETF had a strong performance on its first day The XRP spot ETF performed brilliantly on its first trading day. Franklin Templeton's XRPZ and Grayscale's GXRP saw a combined inflow of $164 million on their debut, making them 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 Futures market open interest has decreased significantly Since the beginning of October, the open interest in 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 for XRP, which may affect short-term price fluctuations.

From a technical perspective, XRP is currently fluctuating around a price of $2.17, and it may face further pullback 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 intended as investment advice; investors should be aware of market volatility risks.