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business17h ago
Key facts: XRP Nears Yearly Lows; $700M Raised for XRP ETFs; Solana to Integrate wXRP
- XRP trades near yearly lows, with the $2.00 support level tested and potential for further declines if it breaks.
- Ripple says XRP ETFs have raised over $700 million, signaling notable institutional investment in the crypto market.
- Solana plans to integrate XRP via a partnership, issuing wrapped XRP (wXRP) to expand liquidity in DeFi.
- The price action suggests continued pressure on XRP as market dynamics evolve with ETF funding.
- XRP ETFs' fundraising indicates growing institutional interest in crypto-related financial products.
- The Solana-wXRP collaboration aims to improve cross-chain liquidity for XRP in DeFi.
- Hex Trust and LayerZero are involved in the XRP integration with Solana.
- The update aligns with ongoing market trends of ETF-backed crypto exposure and cross-chain connectivity.
- The report notes XRP's price vulnerability while ETF funding grows.
- Market watchers see XRP ETFs as a barometer for institutional crypto interest.
- The combined developments point to continued experimentation with XRP across platforms.
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