Teucrium's 2X Daily Long XRP ETF (XXRP) Has Seen Significant Investor Inflows

Teucrium's 2X Daily Long XRP ETF (XXRP) has seen significant investor inflows, indicating strong institutional interest post-Ripple legal clarity.

Teucrium’s 2X Daily Long XRP ETF (XXRP) has seen consistent inflows for five straight days, indicating significant investor interest.

The XXRP ETF launched smoothly, with Teucrium CEO Sal Gilbertie highlighting the “terrific response” from investors and noting the ETF’s successful debut.

As trading volume on XXRP increases and its price continues to rise, the bullish outlook for XRP is further supported by the launch of new XRP futures and potential ETF approvals.

Teucrium’s newest launch, the 2X Daily Long XRP ETF, is quickly grabbing attention with five straight days of inflows. This steady demand showcases growing interest from institutional investors in XRP, especially now that Ripple has cleared its long-running legal issues with the SEC.

Here’s what you should know.

Teucrium CEO Praises Strong Start

The new 2x XRP ETF is apparently off to a "most successful launch day" according to Teucrium CEO Sal Gilbertie. In a conversation with ETF analyst Neta Geraci, he said the product has received a strong response from investors, even though it didn’t make big headlines at first. Gilbertie also pointed out that the timing—right after the old SEC leadership stepped down—played a key role in the ETF’s successful debut.

🚨HOT FRESH KIRSCHEN: TEUCRUM CEO: "THE XRP ETF WAS OUR MOST SUCCESSFUL LAUNCH DAY TO DATE FOR FUND WE’VE EVER DONE"

"Terrific response"

"Overwhelming excitement"

Institutional investors are eager to acquire XRP through their preferred investment vehicles.🎯

Listen closely.👇https://t.co/W2n4f2OyjRpic.twitter.com/ypi5GQVAhr— Neta Block (The Material Girl) (@MaterialBalGirl) April 6, 2024

According to data from NYSE Arca, Teucrium’s 2x leveraged build on the crypto asset launched on April 2 with 5 million in trading volume. While that's small compared to the billions seen in Bitcoin ETFs, ETF expert Eric Balchunas noted it's still impressive given the current market conditions.

The volume on $XXRP is impressive, these are big numbers for Day Two-Four, esp for a 2x indie in a whack market. Child's play vs bitcoin ETFs of course, but really strong, this thing is finding an audience quickly

'/')https://t.co/6zB791770w

— Eric Balchunas (@Balchunas) April 5, 2024

XXRP ETF Commences at $23.37

The leveraged XRP ETF had an eventful first week following its debut on NYSE Arca. Opening at $23.37 with $5.5 million in trading volume, the ETF saw increased activity throughout the week.

On April 9, the ETF reached $28.92 with volume surging to over $13 million. The ETF attained its weekly high at $29.21 on April 11, with $8.57 million traded.

As crypto behemoth Ripple’s long-running case with the U.S. SEC finally came to an end in late February, institutional interest in XRP products is expected to grow further.

The closure of the case paves the way for many asset managers who are hoping for XRP ETF approvals, especially after the SEC’s recent green light for Ethereum ETF options signaled a more crypto-friendly stance.

XRP Price Today

The broader outlook for XRP appears strong, with the launch of new futures products and continued interest in ETFs showcasing a growing need for institutional-grade exposure to the asset.

On the technology side, upcoming upgrades like smart contract support for the XRP Ledger could introduce new use cases and attract more developers to the ecosystem.

At press time, XRP is changing hands at $2.00-$2.04, showing a 3.84% increase in the past 24 hours with strong market support and high trading activity. Over the last day, the price mostly moved within the range of $1.93 and $2.03.

With ETF momentum building and regulatory clarity finally in place, XRP could be setting the stage for a major breakout.

Stay tuned for more updates.