Grayscale Adds Ripple's XRP and Avalanche's AVAX to Digital Large Cap Fund

Prominent digital asset manager Grayscale recently adjusted the weightings of key products within its portfolio. Notably, changes were made to the Grayscale Digital Large Cap Fund, Grayscale DeFi Fund, and Grayscale Smart Contract Platform Ex-Ethereum Fund.

Timeline of Avalanche, Xrp

Grayscale, an operator of largest crypto-based OTC investment products, reconsidered its funds component weightings after fourth quarter 2023 reviews. Some major altcoins and top DeFi assets were removed from Grayscale's baskets, but XRP's comeback is the most anticipated development.

Fox journalist Eleanor Terrett has hinted at upcoming investigations related to XRP and Ethereum. Her focus stems from discussions within the crypto community, particularly centering on a 2021 proposal by Jimmy Vallee. Vallee suggested that the U.S. Federal Reserve might buy back XRP tokens at an ambitious $30,000 each.

XRP, one of the most popular cryptocurrencies fostered by Ripple Labs, curates a hurricane of speculations across the crypto realm today as the token recorded significant whale transfers to a CEX recently. Intriguingly, these whale transactions have stirred a whirlpool of inferences among crypto market enthusiasts globally following their emergence amid the token's price drop.

The chart analysis unveils a dramatic breakdown following a consolidation phase, indicating a pronounced sell-off leading to rapid liquidations and a considerable decline in prices. Such market behaviour often signifies a scenario where selling pressure outweighs buying interest, triggering widespread stop-loss orders and intense market movements.

XRP has recently experienced a seismic price drop, one we have not seen since August. A massive price wick, as shown on the chart, liquidated millions of dollars worth of derivatives in less than an hour.

A prominent crypto lawyer who helped Ripple Labs and XRP in the case against the U.S. Securities and Exchange Commission (SEC) is volunteering to represent US retail token holders during an upcoming Congressional hearing.

Global crypto payments provider Ripple is poised to venture into a substantial $1.5 trillion industry, signaling a potential surge for XRP. The company is strategically positioning itself to provide solutions to the financial complexities within this industry.

In an upcoming congressional hearing on digital assets scheduled for January 10, John Deaton, a prominent lawyer known for his representation of XRP holders, has publicly volunteered to testify.

In a remarkable surge, digital asset investment products witnessed an impressive $2.2 billion in inflows for 2023, positioning it as the third-largest year on record, trailing only the extraordinary highs of 2020 and 2021.

XRP, one of the most renowned cryptocurrencies by global market cap, curated a tidal wave of speculations across the broader crypto market on Thursday, following substantial whale transfers jotted by the token. Notably, these transfers promptly gained significant traction among global crypto market enthusiasts as they surfaced amid XRP's price drop.