XRP, Dogecoin Prices Surge As Altcoin ETFs Launch Looms

Altcoin ETFs Launch Imminent: What to Expect for XRP, DOGE?

A new wave of excitement has arrived in the crypto market. Two major altcoin ETFs are set to launch this week. The potential debut of REX-Osprey XRP and Dogecoin exchange-traded funds has created optimism in the market, which may lead to a rally. The current trend of both tokens raises anticipation for a possible price surge.

Altcoin ETFs Launch This Week: What You Need to Know

According to an official X post released by investment giant REX Shares, two altcoin ETFs- XRP and Dogecoin- are expected to be launched this week. While the DOGE fund, with the ticker DOJE, is expected to be introduced on Thursday, the XRP fund is slated for a Friday debut, under the ticker XRPR. Both funds will leverage the Investment Company Act of 1940, providing a more streamlined approval process compared to the Securities Act of 1933.

Bloomberg analyst James Seyffart stated, “As of now, the Doge ETF DOJE is slated for a Thursday launch.” He added that the DOJE is “more likely than not.” According to Fox Business journalist Eleanor Terret, the REX-Osprey XRPR is a spot ETF that holds actual XRP, along with cash, U.S. Treasuries, and select derivatives, with approximately 80% of its holdings allocated to Ripple’s coin, offering enhanced regulatory oversight.

Ripple, Dogecoin Prices Soar Amid Altcoin ETFs Anticipation

Currently, the XRP and Dogecoin prices are experiencing a notable surge, sparking speculations about a major bull run. Currently, DOGE is trading at $0.2670, up 11% in a week and 20% in a month. At the same time, the Ripple token is valued at $3.02, up 1.69% and 1.76% over the past week and month, respectively.

However, traders’ optimism towards these tokens is waning as evident in the declining trading volumes. XRP's 24-hour trading volume stands at $4.65 billion, down 17%, while Dogecoin's volume is at $4.14 billion, down 5%.

As the altcoin ETFs launch looms, analysts and experts remain highly bullish about these cryptocurrencies. In a recent post, Trader Tardigrade predicted that the next critical target of DOGE is $0.31. At the same time, analyst Nebraskangooner shared his bullish perspectives on the Ripple token. He believes that the crypto will continue its bullish track, and reach at least $3.3.