Ripple (XRP) surged 10% following the announcement of a new investment vehicle by Grayscale but has since corrected, holding a 4% gain. Grayscale, with $26 billion in assets, launched a single-asset fund for XRP, offering institutional investors exposure to the token. XRP now trades at $0.5602, up from its September 11 close of $0.5348.

XRP's rally peaked at $0.5884 but could extend by 7%, targeting the Fair Value Gap between $0.6000 and $0.6217. The MACD indicator shows bullish momentum, supporting potential gains.

However, a daily close below $0.5231 could invalidate this bullish outlook, with $0.5000 acting as a key support level.