XRP ETF: Mad Dash or EPIC Fail? 😱

by

Right, so apparently Vermont-based asset types, Teucrium (sounds a bit like a dodgy herbal tea, doesn’t it?) are launching the first XRP-based ETF thingy in the U.S. today. And get this, it’s *leveraged*. Before a normal one even got the nod. Honestly, sometimes you just have to laugh. 😂

This “Teucrium 2x Long Daily XRP ETF” (or XXRP, because who needs vowels?) is going to be listed on NYSE Arca. Apparently, it’ll offer twice the daily performance of XRP. Twice the fun, twice the potential for disaster, am I right? 😅

Why a Leveraged ETF First? (Good Question!)

So, all these other important people like WisdomTree and Franklin Templeton have filed for XRP ETFs too. But they’re all still waiting for the SEC (those lovely, ever-so-decisive people) to decide. Talk about a queue! 🙄

Some bloke called Eric Balchunas from Bloomberg (sounds vaguely important) called it “very odd” on X (formerly Twitter, still a cesspool). Apparently, leveraged things usually come *after* the normal ones. “Spot XRP still isn’t approved, though our odds are pretty high,” he said. Well, that’s reassuring. 🤷‍♀️

Apparently, the SEC has “softened its stance” on crypto after some reshuffling, thanks to Trump’s victory (still going on about that, are we?). Plus, they had a few courtroom mishaps. Serves them right! 🏛️

They even dropped a case against Ripple Labs (the XRP people) and only fined them $50 million. Which, let’s be honest, is probably pocket change for them. This cleared the way for this ETF madness. 💸

Teucrium’s thingy is aimed at short-term traders (read: gamblers) and has a 1.85% management fee. Plus, they warned about XRP’s volatility and “declining performance.” Charming. Apparently, nobody is buying the Ethereum ETFs, so what are the odds with this one? 😬

XRP Price: Up, Down, All Around 😵‍💫

As XXRP gets ready to launch, XRP’s price is doing the cha-cha. At the time of writing, it’s at $1.87, up 7% in the last day. Woohoo! 🥳

But don’t get too excited. It’s down 11.2% in the last week, 23% in the last two weeks, and nearly 20% in the last month. So, basically, a rollercoaster. 🎢

Compared to the rest of the crypto world (which is down 8.2% thanks to Trump’s trade policies), XRP’s doing slightly worse. But hey, it’s up 215% in the last year, thanks to legal wins and ETF rumors. So, swings and roundabouts, darling. Just another day in the world of crypto chaos! 😜

Read More

2025-04-08 12:36