Asset management company Bitwise has filed Form S-1 for the XRP ETP with the US Securities and Exchange Commission, its first official filing in the US. This announcement initially increased optimism and the price of XRP, but news from the SEC caused a price drop. Santiment reported that XRP's trading volume has significantly increased, potentially due to positive news from Bitwise and institutional accumulation. However, Santiment warned investors about the volatility associated with high volumes and advised caution. Additionally, Santiment noted that XRP's 30-day MVRV is at its lowest point in two months, indicating a potential opportunity zone. Whale transactions worth over $1 million have also increased, suggesting accumulation by larger investors. Santiment concluded that while Bitwise is bullish on the XRP ETF, investors should be cautious of changes in market sentiment.



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