June was explosive for XRP. XRP officially found its place in the NASDAQ Crypto Index or NCI. This was significant for XRP, as it bolstered investor confidence in the token. XRP began the altcoin trend, and soon tokens like ADA, SOL, and XLM were added.
This is not just great for XRP, one of the big three, but also for the overall landscape. This addition reflects how investor confidence and interest are gradually broadening the crypto horizon. It demonstrates how cryptocurrency is becoming a mainstream investment opportunity and not a second fiddle.
XRP Found Its Place On NASDAQ
NCI is primarily a benchmark that tracks the performance of some of the major cryptocurrencies. The benchmark is meant to help investors identify how and what the topken has in store in terms of growth.
As soon as a crypto token is added to the NASDAQ list, it is immediately recognized as a credible token with good potential for growth. This will likely draw the attention of institutional investors to the token’s activities, which can ultimately drive the price higher.
This is quite apparent from the overall XRP price action observed following the inclusion. The token single-handedly managed to rise by 5% in a remarkably short time. The patterns formed on the daily chart suggest that the token is all set to make a bullish comeback.
Therefore, NASDAQ inclusion is a significant development for the token and can propel it to a new level.
