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 XRP, the cryptocurrency linked to Ripple Labs, has recently seen significant developments, both in its market performance and adoption in the institutional sector.

Market Performance

As of late December 2024, XRP is trading at $2.05, showing a slight decrease of 1.44% from its prior valuation. Over the past month, XRP has experienced a 26% decline, mirroring broader market trends affecting leading cryptocurrencies such as Bitcoin and Ethereum.

Institutional Interest

Despite the market volatility, XRP continues to attract institutional attention:

• Launch of XRP ETP in Europe
  Asset manager WisdomTree has introduced a fully-backed exchange-traded product (ETP) called the WisdomTree Physical XRP ETP. This product has been listed on major European exchanges, offering investors easier access to XRP investments.

• Recommendations for XRP Buyback Programs
  Swiss asset manager GAM has called on Japan's SBI Holdings to adopt a more active approach to its XRP investments. Recommendations include daily valuations of XRP holdings and potentially launching an XRP buyback program to bolster shareholder value.

Regulatory Developments

The regulatory environment surrounding XRP remains dynamic. Positive sentiment has emerged with the possible appointment of a more crypto-friendly SEC chair in the United States, which could pave the way for improved conditions for XRP and the cryptocurrency market at large.

While XRP has faced some price corrections recently, its growing institutional appeal and potential regulatory shifts suggest a cautiously optimistic future. The cryptocurrency remains a key player to watch in the evolving digital asset landscape.