The post XRP price falls despite 4 new ETF fillings; new similar altcoin soars appeared on BitcoinEthereumNews.com.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Ripple’s price dips despite positive ETF filings, as a rising ERC20-backed DeFi project gains attention in the market. In an unexpected twist in the cryptocurrency market, Ripple’s price has taken a downturn despite a flurry of positive news, including four new Exchange Traded Fund (ETF) filings from major financial institutions. The filings, which include proposals from Bitwise, WisdomTree, 21 Shares, and Canary Capital, aimed to convert existing Ripple products into spot XRP ETFs. As the spotlight on analysts’ XRP price predictions intensifies amid its recent price struggles, another project is quietly rising to prominence. Unlike many altcoins that depend solely on speculative hype, this ERC20 coin-backed Defi Project is on a mission to connect the world of digital currencies with traditional fiat systems.  XRP ecosystem news and price performance In recent days, the Ripple market has been a rollercoaster ride. Despite the announcement of four new ETF filings meant to boost confidence, XRP has not delivered the expected rally. In fact, its price has taken a noticeable hit, falling well below its recent highs.  Market chatter suggests that some experts expect Ripple to dip below the one-dollar mark before any potential recovery. Historically, ETF announcements have propelled crypto prices upward due to increased institutional interest and perceived legitimacy. However, XRP saw a 24.4% drop in value over the last 7 days, trading at $2.35 at the time of writing, suggesting that other market dynamics or broader crypto sell-offs might be at play. Ripple analysts are trying to decipher this anomaly, pointing to several factors that might explain the counterintuitive price movement. The recent ETF filings for Ripple, while promising on paper, have not been enough to sustain Ripple’s momentum…

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Filed under: News - @ February 8, 2025 6:26 pm