Grayscale Investments, an asset management giant, announces the creation and launch of XRP Trust on Thursday. Grayscale’s single-asset investment fund is expected to attract institutional investors and capital to the altcoin. XRP gains 4% on the day, having surged more than 10% earlier in the session. Ripple rallied as much as 10% on Thursday following the announcement of a new vehicle for institutional investment. The altcoin corrected and has sustained 4% gains for now.
The Moving Average Convergence Divergence indicator is a momentum indicator that supports the bullish thesis and the green histogram bars above the neutral line indicate positive underlying momentum in XRP price trend. XRP/USDT daily chart If Ripple closes a daily candlestick under September 11 low of $0.5231, it could invalidate the bullish thesis, and XRP could collect liquidity at $0.5000, another key support level that has held steady since July 2024.