- Teucrium’s XRP ETF hits $40M AUM in under 3 weeks, signaling strong investor demand.
- XRP whales accumulate 260M tokens, boosting bullish market sentiment.
- XRP eyes $3 after breaching $2.30, supported by ETF growth and technical patterns.
The first XRP exchange-traded fund (ETF) launched in the United States has reached over $40 million in net assets, less than three weeks after debuting. The leveraged product by Teucrium has gained notable investor interest despite market caution, showing confidence in Ripple’s utility and long-term potential.
Teucrium’s XRP ETF Records Strong Investor Interest
The ETF, officially listed on April 8, is the first of its kind for XRP in the US. According to Teucrium’s official updates, the 2x Long Daily XRP ETF has rapidly accumulated capital, pointing to strong early demand. This rise in investor participation comes as XRP’s price targets the $3 mark, following recent activity from institutional players and high-net-worth investors.
Teucrium’s XXRP leveraged product is the first XRP ETF to launch in the US, and the amount of interest it is amassing from investors despite ongoing market anxiety is a bullish sign for the Ripple price and could aid a breakout past the key resistance hurdle of $2.20 to all-time highs.
Teucrium’s CEO recently told Bloomberg that XRP currently offers the most utility among major cryptocurrencies. The asset’s application in payments, tokenization, and brokerage services, including Ripple’s acquisition of Hidden Road, has positioned it favorably within the digital finance landscape.
Whale Accumulation Strengthens Bullish Sentiment
Institutional interest is not the only factor contributing to Ripple’s upward trajectory. Blockchain data from Santiment shows that XRP whales have significantly increased their holdings. Addresses holding between one million and one hundred million XRP tokens acquired over 260 million tokens during the latest rally.
This strategic accumulation took place as XRP briefly touched a multi-week high of $2.30. The token has since pulled back to trade at nearly $2.18. However, strong buying activity from large investors continues to signal confidence in further upside potential.
XRP is now attempting to break above a key resistance point within a descending parallel channel on the daily chart. Technical analysts suggest that clearing the $2.75 resistance zone may trigger further upward momentum. If successful, XRP could move past the $3 level and aim for a new high near $3.29.
Price Outlook Remains Positive Amid Technical Patterns
Despite the minor dip from its recent high, XRP maintains a strong setup for continued gains. The daily price chart shows the token reaching a higher low which traders usually interpret as an optimistic reversal pattern. The confirmation of the trend requires traders to monitor essential indicators including Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD).
The price outlook remains positive when the RSI stays above the midpoint and the MACD line maintains its position above zero. If XRP fails to hold above the $2.05 support zone, the uptrend could pause temporarily.
Nevertheless, with ETF-backed demand and consistent whale activity, XRP continues to show signs of strength in a volatile market.
