XRP (XRP) returns to the $2 mark, rising 2.89% in 24 hours.

Gate News Bot news, on November 24, according to CoinMarketCap data, as of the time of writing, XRP (XRP) is currently priced at $2.09, having risen by 2.89% in the last 24 hours, with a high of $2.29 and a low of $1.83. The 24-hour volume reached $4.204 billion. The current market capitalization is approximately $125.851 billion, an increase of $3.537 billion compared to yesterday.

Important news about XRP recently:

1️⃣ The US XRP spot ETF products continue to expand The Bitwise XRP ETF officially began trading on the New York Stock Exchange on November 20, with the stock code XRP. At the same time, the XRP ETFs from Grayscale and Franklin are also expected to start trading soon. The launch of these ETF products provides more avenues for institutional investors to participate in the XRP market and is expected to attract more capital inflow.

2️⃣ Ripple explores introducing staking functionality to the XRP ledger The RippleX engineering team is considering introducing a staking feature in the XRP ledger ( XRPL ) to expand its applications in the decentralized finance ( DeFi ) space. This move could reshape the incentive mechanisms for validators and token holders, but it also poses challenges to the fundamental principles of XRPL. Ripple's Chief Technology Officer David Schwartz proposed two possible implementation paths, including a dual consensus model and funding zero-knowledge proof validation through transaction fees.

3️⃣ Institutional investors' interest in XRP increases Barstool Sports founder Dave Portnoy recently purchased $1 million worth of XRP, along with $750,000 in Bitcoin and $400,000 in Ethereum. This demonstrates a positive outlook from some high-net-worth individual investors towards the XRP market. Additionally, Amplify ETFs has launched the first XRP-based options income ETF (XRPM), targeting a monthly yield of 3%, providing investors with new XRP-related investment tools.

From a technical perspective, XRP's current price is oscillating around $2.09, with a potential support level at $1.83 in the short term. On the fundamental side, the continuous innovation and listing of ETF products, Ripple's exploration of technical upgrades for XRPL, and the participation of institutional investors provide positive factors for XRP. However, market sentiment is still in the “anxiety” stage, and investors need to closely monitor the overall market trend and the potential impact of regulatory developments on XRP's price.

This message is not intended as investment advice; investors should be aware of market volatility risks.