Bitwise XRP ETF to launch Thursday, but community questions ticker

Bitcoin trading activity has surged as the CLARITY Act approaches, with market participants positioning for potential new all-time highs. Currently, Bitcoin is trading around $88,100, reflecting a 'bullish neutrality' trend amid significant short liquidations that are exerting upward pressure on prices.

The XRP/gold ratio has reached a historical support zone around $0.0004, as noted by market analyst Steph is Crypto. This level has historically indicated significant turning points for XRP's price relative to gold, suggesting a potential for upward movement following previous visits to this zone.

Bitcoin's price has recently experienced a significant drop to approximately $57,000, raising concerns about the sustainability of its recovery above $94,000. Analysts suggest that while a bullish trend may appear imminent, it could ultimately lead to a deeper market correction, as indicated by the Elliott Wave analysis shared by crypto analyst Xanrox.

XRP has surged back above $2, driven by significant inflows from institutional investors, indicating a robust rally for the altcoin. This momentum suggests that the interest in XRP is gaining traction, particularly among traditional finance (TradFi) players.

Legal expert Bill Morgan has highlighted that Ripple's inability to promote XRP over the years was primarily due to its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), which has now reached a resolution. This legal clarity allows Ripple to shift its focus towards promoting XRP without regulatory constraints.

Bitcoin (BTC) has surged past the $96,000 mark this week, driven by significant inflows into U.S. spot Bitcoin exchange-traded funds (ETFs) and a favorable U.S. Consumer Price Index (CPI) report, which alleviated inflation concerns. This price movement marks the end of a prolonged consolidation phase, leading to a wave of bearish liquidations as short sellers exited their positions.

Bitwise has officially listed Bitcoin, Ether, and Solana exchange-traded products (ETPs) on Nasdaq Stockholm, providing local investors with regulated access to these cryptocurrencies through spot and staking-based products. This move marks a significant expansion of Bitwise's presence in the European market.

Bitcoin's price surged to a new high of $97,500, with market data indicating that bullish sentiment is driving expectations for prices to exceed $100,000. This rally suggests a potential return of the bull market in cryptocurrency.