Cboe Sparks XRP Momentum as XRPM 3% Monthly Premium Income Starts Trading

XRP investors are experiencing significant losses, with recent on-chain data indicating a sharp decline in profitable supply. The market remains fragile, despite XRP trading higher than its price from the previous year. Current statistics reveal increasing pressure on investors and a weakening market structure.

Bitcoin is currently trading around the $90,000 mark, reflecting a significant market shift. Analysts are divided on whether this decline below $100,000 signals the start of a bear market or if Bitcoin is poised for a recovery. Recent data indicates that nearly 7 million BTC are now at an unrealized loss, the highest since January 2024, highlighting the ongoing volatility and uncertainty in the cryptocurrency market.

Bitwise is set to launch an XRP ETF, expanding its cryptocurrency ETF portfolio beyond Bitcoin. This move is aimed at providing institutional-grade access to XRP, which could enhance market participation and investor interest in the cryptocurrency sector.

Grayscale is set to launch an XRP trust ETF, which may enhance the mainstream adoption and regulatory acceptance of cryptocurrency investments. This move follows a growing interest in crypto-linked financial products and could signify a shift in market dynamics.

Dave Portnoy's recent investments in XRP, BTC, and ETH have drawn attention, reflecting a growing interest in cryptocurrency among mainstream investors. His actions may influence market dynamics and highlight the potential volatility of digital assets.

A prominent cryptocurrency trader has opened a $27 million short position on XRP with 20x leverage, according to blockchain analytics platform Lookonchain. This move comes amid a broader trend of declining prices and trading volumes in the cryptocurrency market, particularly for XRP, which has seen a significant portion of its supply at a loss.

A prominent trader has opened a $27 million short position on XRP, betting on a significant price crash amid a market downtrend. Despite the recent launch of Canary's XRP ETF, the altcoin struggles, with analyst Ali Martinez predicting a potential drop below the psychological $2 level. The trader's actions reflect broader concerns about XRP's stability as it faces selling pressure, with 41.5% of its supply currently at a loss.

XRP's price has dropped by 1% today, extending a seven-day decline to 11.2%. Despite over $270 million in ETF inflows, disappointment surrounding ETF performance continues. Only 58.5% of holders remain profitable, increasing the risk of selling pressure. The ongoing inflow into spot ETFs has not been sufficient to boost XRP's price, with the Canary XRPC ETF seeing $25.4 million in inflows on November 18, while the new EZRP fund from Franklin Templeton has had minimal market impact.