Blockchain firm Ripple, behind XRP, appears to be preparing for potential involvement in the exchange-traded fund (ETF) space, as a recent job advertisement indicates.
Through a posting on its website, the company is actively seeking a Senior Manager, Business Development focusing on institutional decentralized finance (DeFi). Among the responsibilities outlined in the role is the drive to spearhead cryptocurrency-related ETF initiatives in collaboration with internal trading teams and relevant partners.
Ripple Senior Manager, Business Development roles. Source: Ripple
Notably, speculations about an XRP ETF have surfaced recently following the approval of a spot Bitcoin (BTC) ETF.
XRP seven-day price chart. Source: Finbold
In terms of technical analysis, bearish sentiments dominate XRP. A one-day gauge summary aligns with a ‘sell’ sentiment at 14, while moving averages suggest a ‘strong sell’ at 13. On the other hand, oscillators are ‘neutral’ at 9.
XRP technical analysis chart. Source: TradingView
Although XRP has made gains in the short term, several market participants have suggested that the token is at risk of further correction, citing elements such as the impact of centralization.
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