Grayscale's creation of the Grayscale XRP Trust was good news for the altcoin's price as it allowed XRP to climb on the charts and...
XRP’s price surged by 9.8% following the updatehas seen a sustained moment of peace as Ripple’s legal woes seemed to gradually disappear. Its recent legal wins against the SEC have given the community hope to continue aiming for a better future.According to Grayscale, the crypto asset manager has started offering Grayscale XRP Trust. This trust hopes to provide investors the opportunity to gain access and exposure to the token that powers XRP Ledger.
Unlike ETFs with variable share volume, the closed-end trust has a fixed number of shares, making it less liquid.Following the introduction of Grayscale XRP Trust, the markets immediately reacted positively. For instance, XRP’s price surged by 9.8%, hitting a local high of $0.588, with the trading volume soaring by 105.54% to $1.7 billion. Its market cap hiked by 6% to $32.2 billion too.Over the past month, XRP has seen sustained uptrend momentum on the charts.
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