XRP (XRP) increased by 4.76% in the last 24 hours

Gate News Bot Message, November 10th, according to CoinMarketCap data, XRP (XRP) is currently trading at $2.39, up 4.76% in the past 24 hours. The highest price reached $2.39, and the lowest dropped to $2.08. The 24-hour trading volume is $3.307 billion. The current market capitalization is approximately $143.523 billion, an increase of $6.517 billion from yesterday. XRP is currently ranked 4th in cryptocurrency market capitalization.

Recent important news about XRP:

1️⃣ 21Shares submits XRP Spot ETF application
21Shares has filed a Form 8(A) with the U.S. SEC for a XRP spot ETF. The application will undergo a 20-day review period. This move marks another well-known asset management company entering the XRP spot ETF competition, potentially attracting more institutional investors’ attention and participation.

2️⃣ Large trader closes XRP short positions for profit
A major trader recently closed XRP short positions, realizing a profit of $945,000, and then began increasing short positions in BTC. This operation suggests that some large funds may believe XRP has limited short-term upside and are adjusting their investment strategies. However, it could also indicate a temporary easing of downward pressure on XRP.

3️⃣ Significant increase in XRP wallet addresses
In the past 48 hours, the XRP network added 21,595 new wallet addresses, marking the highest increase in 8 months. This phenomenon indicates growing investor interest in XRP and may signal an expansion of the user base and network activity in the future.

From a technical perspective, XRP’s current price hovers around $2.39, with a key support level at $2.25 in the short term. Fundamentally, the ETF application progress, large trader movements, and user base expansion all influence XRP. Investors should closely monitor market trends and potential regulatory changes.

This message is not investment advice. Please be aware of market volatility risks.