New reports reveal that the CRP token now makes up more than 10% of Valour’s digital asset pool.
Other competitors like Solana (SOL), Cardano (ADA), Tron (TRX), and Toncoin (TON) only weigh less than 5% in the same firm.
According to a recent report from Valour, its Digital Asset Basket 10 index “VDAB10” has just been adjusted VDAB10 is designed to track the movement of the top 10 most valued digital currencies by market cap. As a result of this adjustment, the XRP token now makes up 10.23% of its composition.
On the other hand, other altcoins, some of which are often referred to as XRP rivals, only weigh below 5%. They include Solana (SOL), Cardano (ADA), Tron (TRX) and Toncoin (TON).
It bears mentioning that at this time, only three crypto assets hold a higher weight in Valour’s basket. Bitcoin (BTC) and Ethereum (ETH) are two of the assets currently weighing an estimated 30%, while the Binance Coin (BNB), weighs 13.19%.
Recall that Valour recently announced its plans to introduce a Ripple (XRP) exchange-traded product. The ETP will be launched on a European exchange in early December 2023. The move is one of the firm’s many attempts to diversify and expand its range of digital asset investment products.
The ETP, like ETFs, will allow interested investors to gain exposure to Ripple (XRP). Investors can gain access to XRP from brokers and banks that currently meet the growing demand for diverse digital asset investments in European markets.
XRP community continues to soar, Garlinghouse commends members for unwavering support
Meanwhile, the XRP community has remained active since it scored a victory over the U.S. Securities and Exchange Commission (SEC).
Even Brian Armstrong, the CEO of Ripple, has taken to X, formerly Twitter, to commend the XRP army for aiding the asset’s growth over the past months. XRP’s legal win against the SEC could trigger significant regulatory change for the entire cryptocurrency ecosystem.
XRP has also had a noteworthy performance this year. The altcoin has soared by 79.9% since the start of the year. At report time, XRP is trading at $0.6174. Hourly gains and 24-hour trading volume are up by 1.51% and 33.98% respectively.
It bears mentioning that XRP has also recently attained a bullish feat that could lead to yet another upward price rally. As one pseudonymous trader observes the asset could hit a new yearly high if it breaks out above its current levels.
XRP has been coiling in between this: 6-YEAR HORIZONTAL SUPPORT AND 6-YEAR DIAGONAL RESISTANCE. A breakout above this level should be incomparable to any previous XRP move we have seen this year
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