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Grayscale Investments has announced the latest product in its portfolio of over 20 crypto investment vehicles and it will track the performance of Ripple’s native token – XRP.
Eligible individual and institutional accredited investors have the option for daily subscriptions from today.
The <a href="https://www.globenewswire.com/news-release/2024/09/12/2945244/0/en/Grayscale-Investments-Launches-Grayscale-XRP-Trust.html" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">announcement</a> from Grayscale described XRP’s token as the asset “powering the XRP Ledger (XRPL), a distributed peer-to-peer network created to facilitate cross-border financial transactions.”
<blockquote>
 “We believe Grayscale XRP Trust gives investors exposure to a protocol with an important real-world use case. By facilitating cross-border payments that take just seconds to complete, XRP has the potential to transform the legacy financial infrastructure.”- said Grayscale’s Head of Product and Research, Rayhaneh Sharif-Askary.
</blockquote>
Grayscale, founded over a decade ago, already has two of its products converted into spot exchange-traded funds. Namely, those are the former private Trusts tracking Bitcoin and Ethereum. However, both have seen a massive exodus of capital after their conversion in January and July, respectively.
XRP’s price reacted immediately to the news. The token soared by over 6% within an hour and jumped from under $0.54 to over $0.585 before settling at $0.57.
<figure id="attachment_359672" aria-describedby="caption-attachment-359672" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/09/XRPUSD.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-359672" src="https://cryptopotato.com/wp-content/uploads/2024/09/XRPUSD.png" alt="XRPUSD. Source: TradingView" width="1835" height="819" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/XRPUSD.png 1835w, https://cryptopotato.com/wp-content/uploads/2024/09/XRPUSD-300x134.png 300w, https://cryptopotato.com/wp-content/uploads/2024/09/XRPUSD-1024x457.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/XRPUSD-768x343.png 768w, https://cryptopotato.com/wp-content/uploads/2024/09/XRPUSD-1536x686.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/XRPUSD-50x22.png 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-359672" class="wp-caption-text">
 XRPUSD. Source: TradingView
 </figcaption>
</figure>
You can review some of the most bullish price forecasts for XRP – <a href="https://cryptopotato.com/ripple-xrp-could-be-primed-for-a-mega-pump-analysts-chip-in/" data-wpel-link="internal" rel="noopener noreferrer nofollow">here</a>.
The post <a href="https://cryptopotato.com/xrp-price-skyrockets-7-as-grayscale-launches-dedicated-ripple-trust/" rel="noopener noreferrer nofollow">XRP Price Skyrockets 7% as Grayscale Launches Dedicated Ripple Trust</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

XRP Price Skyrockets 7% as Grayscale Launches Dedicated Ripple Trust

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