Ripple’s native token is trading in the green on Monday and touched a high of $2.29 in the day’s trade. XRP is now listed in the NASDAQ Crypto US Settlement Price Index (NCIUS) and traders have turned bullish on the development. It is up nearly 2.1% and sustainably scaled up in the charts in the last seven days. The leading altcoin shot up close to 5% in a week after trading sideways for two months. The price rise comes after an increase in trading volume as it touched the $2.8 billion mark.
Also Read: XRP Breakout: Ripple’s June Moves Stoke $10 Year-End Target
The trading volume also increased as the Ripple Foundation announced that it is expanding operations in Asia. It offered $200K in grants to Web3 startups in Japan and South Korea to build the next wave of decentralized projects. Ripple teamed up with Web3 Salon, a blockchain accelerator supported by Japan’s JETRO and the Asia Web3 Alliance. This pumped up XRP’s price further as Ripple is forging ahead with partnerships.
XRP’s NASDAQ Listing Makes the Altcoin’s Price Surge
The NASDAQ Crypto Index had only Bitcoin and Ethereum previously and the latest announcement confirms that XRP, Solana, Cardano (ADA), and Stellar (XLM) are part of the ticker. The inclusion of the altcoins has made the broader markets turn bullish with new investments entering the fold. Top financial institutions are turning towards the cryptocurrency market and the development is lifting investor’s enthusiasm.
Also Read: Ripple: Why XRP May Be Headed For $3 Jump & When
If XRP carries the momentum forward, its price could breach the $2.5 level next. Bitcoin and Ethereum also remained in the green on Monday and have surged close to 2% in the charts. If Bitcoin climbs above the $110,000 price range this week, then XRP could spike higher in the indices. All eyes are on the leading altcoins this month as they’re positioned to rally and deliver profits to investors.
