It has more than doubled in two weeks on several positive catalysts, such as the clearing of regulatory headwinds for closely related Ripple Labs, the launch of money market funds on XRP Ledger, and a technical bullish price analysis.

Ripple, the blockchain giant, is backing Bitwise Asset Management’s revamped Physical XRP ETP, now trading under the ticker GXRP. The rebranding is part of Bitwise’s overhaul of its European product line following its August acquisition of the ETC Group.

WisdomTree, a prominent New York-based asset management firm overseeing $113 billion in assets, has filed for an XRP exchange-traded fund (ETF) with Delaware authorities.

Ripple's XRP surged over 7% after WisdomTree registered for XRP ETF in the US, per Eleanor Terret. The company recently launched a low-cost XRP ETP in Europe. XRP could rally toward its April 2021 resistance of $1.