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🔥 Day 8 Hot Topic: XRP ETF Goes Live
REX-Osprey XRP ETF (XRPR) to Launch This Week! XRPR will be the first spot ETF tracking the performance of the world’s third-largest cryptocurrency, XRP, launched by REX-Osprey (also the team behind SSK). According to Bloomberg Senior ETF Analyst Eric Balchunas,
Analysts have anticipated volatility in the crypto market ahead of the release of macro data.
The lull in the digital asset market will not last long, as the interest of major players coincided with the release of economic indicators in the USA.
Attention is focused on the data for non-farm employment on ( September ), producer price inflation on ( September ), and the consumer price index on ( September ).
Positive indicators in each of the categories may influence the decision of the U.S. Federal Reserve (Fed ) to lower the key interest rate. If inflation continues to rise, traders may reevaluate their positions in risk assets, including cryptocurrencies.
According to him, US President Donald Trump is successfully keeping energy prices in check, but "this may not be enough to counter inflation, and without a reliable mandate from the Fed, inflationary expectations could lead to chaos."
Magadini noted that on September 17, along with the Federal Reserve's decision on the rate, futures tied to Wall Street's "fear gauge" (VIX) will expire. This could trigger additional instability.
He believes that the expiring VIX futures will "cleanse" volatility hedging, but the Fed's decision will cause a serious directional shock.
It is worth noting that from August 29 to September 6, crypto funds lost $352 million despite high expectations from the Federal Reserve meeting.