- XRP’s inclusion in Hashdex ETF highlights its growing role in cross-border payments.
- Ripple’s whale transactions signal strategic moves to enhance liquidity, boosting XRP.
- Bullish trend in XRP shows signs of weakening, with MACD signaling a potential decline.
The Hashdex Nasdaq Index has officially expanded its portfolio by adding XRP to its ETF lineup. This move marks a significant milestone for Ripple’s native cryptocurrency, as it joins a list of major digital assets weighted for their market influence and adoption.
Bitcoin (BTC) and Ethereum take the majority of the portfolio, while XRP’s inclusion signals its function in the world of cross-border payments. On the other hand, Ripple’s on-chain activity and XRP’s bullish market momentum suggest possible changes in the Bitcoin landscape.
Portfolio Composition Highlights Major Cryptocurrencies
Hashdex’s portfolio highlights Bitcoin’s dominance, with BTC allocated a weight of 65.90%. This reflects its unparalleled market influence and widespread adoption. Ethereum follows with a 23.61% allocation, showcasing its pivotal role in DeFi and smart contracts.
Solana claims a 6.00% share, underlining its significance in blockchain scalability and speed. XRP, although smaller at 1.89%, represents Ripple’s specialized focus on cross-border payment solutions and institutional partnerships.
Ripple’s Whale Transactions Signal Strategic Moves
Ripple’s on-chain activity remains a focal point, with notable XRP transactions raising industry attention. Recently, a transfer of 99 million XRP, equivalent to $234.4 million, was executed between anonymous wallets.
Data from Bithomp reveals the source was Ripple’s own wallet, with the destination being Bitgo, a U.S.-based custodial platform for institutions. This transaction followed two massive transfers by Ripple, which carried 380,000,000 and 200,000,000 XRP the equivalent of roughly $1.5 billion in fiat totaling 580 million XRP worth approximately $1.5 billion. Such movements suggest strategic repositioning, potentially aimed at enhancing liquidity or meeting institutional demands.
XRP Price Trend and Technical Indicators
Currently priced at $2.40, XRP’s price action has presented a bullish trend since mid-September with many instances of large upward movement. The price rallied to a peak above $2.40 in November before entering a consolidation phase. It is currently floating between $2.20 to $2.50.
The $2.48–$2.50 range serves as a critical resistance level. A breakout above this range could signal renewed bullish momentum. On the downside, support is observed at $2.28, with $2.00 providing psychological backing during dips.
The RSI is located around the 65 level which points to a high level of buying pressure without compromised oversold levels. However, the histogram of MACD shows that the momentum is declining where the MACD line crossed below the signal line. This may signal a possible rejection of the bullish run in the future.