21Shares XRP ETF launches on Friday! XRP has attracted 620 million for 8 consecutive days, can it break 3 dollars?

21Shares has received approval from the U.S. Securities and Exchange Commission (SEC) and will launch its XRP ETF on Friday, with the ticker symbol TOXR. VALR co-founder Farzam Ehsani stated that XRP has seen a total inflow of over $620 million for eight consecutive days, indicating that institutional investors still have genuine demand for high beta altcoins. Analysts reveal that the target for XRP is the mid-channel level of $2.60.

21Shares TOXR will be listed on Friday to join the XRP ETF battle

(Source: X)

21Shares, a leading digital asset provider in Europe, has received approval from the U.S. Securities and Exchange Commission (SEC) to launch its XRP ETF this Friday, with the stock ticker “TOXR.” In a post released on November 21, 21Shares informed the XRP community to get ready, as they have received the green light for the ETF listing on November 29. This makes TOXR the fourth XRP spot ETF in the U.S. market, demonstrating the asset management company's strong confidence in the demand for XRP.

TOXR is set to join the lineup of approved XRP ETFs launched in November, including Bitwise Spot XRP ETF, Canary Capital XRP ETF, Grayscale XRP Trust ETF (GXRP), and Franklin Templeton XRP ETF (XRPZ). This intensive listing indicates that asset management companies are vying for market share in XRP, and after the SEC relaxed the listing rules for crypto ETFs, XRP has become the most popular ETF target following Bitcoin and Ethereum.

Other XRP ETFs pending approval include CoinShares and WisdomTree XRP ETF. If all these products are approved for listing, the U.S. market could have more than 7 XRP ETFs in the coming months. This supply scale far exceeds that of the Dogecoin ETF, indicating that institutions recognize the fundamentals of XRP significantly more than meme coins.

21Shares has been operating in the European market for many years, with its crypto ETPs (exchange-traded products) covering various assets such as Bitcoin, Ethereum, and Solana, managing billions of dollars. Its entry into the US market indicates confidence in the improvement of the US regulatory environment. Although 21Shares' brand recognition is not as high as BlackRock and Fidelity, it enjoys a strong reputation among crypto-native investors, which may help TOXR attract a portion of the market share.

Bitwise XRP ETF吸引了1.35億美元的資金

Hunter Horsley, the CEO of Bitwise, revealed that the recently launched Bitwise XRP ETF recorded over $18 million in inflows yesterday, bringing its total inflows over the past three days to $135 million. “Since its launch, inflows have reached approximately $135 million in just three days. Thank you to our investors for trusting Bitwise to manage their assets,” Horsley said.

This influx rate is extremely rare among altcoin ETFs. In contrast, the Dogecoin ETF had a trading volume of only $1.4 million on its first day, and may accumulate less than $5 million in three days. The success of the XRP ETF shows investors' confidence in its fundamentals. Ripple's cross-border payment network, partnerships with financial institutions, and the recent victory in the SEC lawsuit provide substantial support for the value of XRP.

Farzam Ehsani, the co-founder and CEO of VALR, stated today that after months of lackluster performance, the positive cash inflow for XRP may be the most structurally significant in altcoin ETFs, as it can attract stable spot ETF demand, indicating that ETF fund flows may be a more reliable barometer of true institutional interest.

“Despite the recent dramatic market fluctuations and pressure from massive whale sell-offs, XRP has seen a continuous inflow of funds for 8 days, totaling over $620 million, which indicates a real demand from institutional investors for high beta alts,” he added. The continuous inflow of funds for 8 days is extremely rare, showing that this is not a short-term speculative enthusiasm, but rather a sustained institutional allocation behavior.

Ehsani believes that if the inflow of funds into the ETF remains sustainable, XRP may be experiencing the first phase of a slow but lasting recovery in liquidity, which is crucial for rebuilding market depth after the recent downturn. Liquidity depth is the foundation for asset price stability; as the depth of buy and sell orders increases, price volatility decreases, attracting more institutional investors to enter the market and creating a positive cycle.

XRP ETF Capital Inflow Highlights

Bitwise XRP ETF: Cumulative inflow of $135 million over three days (highest single-day inflow of $18 million)

Whole Market XRP ETF: Continuous inflow for 8 days, totaling over 620 million USD

Total Inflow on First Day: Nearly 130 million USD (Grayscale + Franklin Templeton)

Demand characteristics: Institutional-led, strong continuity, non-speculative inflow

Analyst technical target: first attack 2.60 then challenge 3 dollars

(Source: Trading View)

Analysts predict that with the continued influx of institutional funds, XRP could break through $3, and the recently launched XRP ETF has joined this bullish trend. Cryptocurrency analyst Ali Martinez supports the bullish prediction for XRP prices, revealing that since XRP price rebounded from the support level of $2.00, its current target is the mid-channel level of $2.60, before attempting to break through the psychological barrier of $3.0.

This technical analysis is based on channel theory. XRP has formed an ascending channel over the past few weeks, with support on the lower track around $2.00 and resistance on the upper track above $3.00. The middle channel level of $2.60 is the first target after the rebound from support, and breaking through this position will confirm the continuation of the uptrend, paving the way to challenge $3.00.

Ray Youssef's prediction aligns with this, as he believes that if ETF demand is sustainable and macro volatility continues to ease, the momentum of altcoin ETFs could trigger a year-end rally, pushing XRP to $3. This prediction is based on several assumptions: ETF inflows are continuous rather than fleeting; the macro environment improves (the Fed cuts interest rates, Trump adopts a pro-crypto policy); and the year-end fund rotation effect (institutions adjust their portfolios before the end of the year).

Based on the current price of approximately $2.19, breaking through $3 would mean an increase of about 37%. This target, while aggressive, is not impossible. XRP reached $1.96 during the bull market in 2021 and even touched a historical high of $3.84 in 2018. If institutional demand remains strong and technical breakthroughs occur, the $3 target may be achievable in the coming weeks.

However, risk factors cannot be ignored. XRP still faces selling pressure from whales, and Ripple itself holds a large amount of XRP, which could suppress prices if they decide to sell. Furthermore, if the Federal Reserve does not cut interest rates in December, a deteriorating macro environment may lead to a comprehensive pullback in risk assets, and XRP would likely be no exception.

This week, the cryptocurrency market is stable with a slight rebound in Meme coins

This week, cryptocurrency prices remain stable, with a total market capitalization staying above $3 trillion. Following recent market fluctuations, popular meme coins like Dogecoin, Shiba Inu, and Pepe Coin are experiencing slight daily increases as traders return to higher-risk assets. This stability indicates that market panic has eased and investor confidence is recovering.

Bitcoin rebounded from $82,000 to around $87,000, while Ethereum held its support at $2,900. The stability of these major coins provides room for altcoins like XRP to rise. In the crypto market, it is often the case that major coins stabilize first, and then funds rotate into altcoins seeking higher returns. The strong capital inflow into the XRP ETF may be a reflection of this rotation effect.

At the same time, presale projects are advancing rapidly. This indicates that the speculative enthusiasm in the crypto market has not waned, and investors are still seeking new investment opportunities. However, for institutional investors with a lower risk appetite, allocating XRP through a compliant ETF is more prudent than directly participating in presale projects. This also explains why the XRP ETF has been able to attract such a large influx of capital.