According to recent reports, HashKey has launched the first Ripple (XRP) tracker fund in Asia. Experts believe this fund, designed to attract professional investors, could lead to a new wave of XRP adoption. HashKey chose XRP due to its increased use in cross-border payments, which are faster, cheaper, and more efficient than traditional systems like SWIFT. Unlike exchange-traded funds (ETFs), HashKey’s Ripple tracker fund is not traded during the day and has less liquidity. However, the company has indicated that with regulatory approvals, it could potentially convert to an ETF in the next one to two years. Meanwhile, speculations about Ripple’s collaboration with the Federal Reserve have excited the market. Analysts suggest that the Federal Reserve plans to utilize blockchain technology to enhance its payment system, with Ripple being a key contender for this project. If this integration occurs, many believe XRP has the potential to grow to $20, transforming it into one of the largest cryptocurrencies with a market cap exceeding $1.2 trillion. Currently, Ripple is trading around $2.10 with a market cap of $121.25 billion. Notable figures like Jeremy Allaire, a cryptocurrency investment pioneer, also emphasize the U.S. government’s support for XRP, predicting it could reach $24 by the end of the year. Although Ripple’s daily chart shows a short-term and medium-term downward trend, the possibility of starting a parabolic rally, especially with support from major institutions, is quite likely. Nevertheless, risk management and avoiding emotional decisions are key to success in the market. Visit the live digital currency price page to track real-time prices of all tokens and cryptocurrencies.
