Underlying Index Performance: XTAP.US tracks a specific index, so its price heavily depends on how well that index performs. Upward movement in the index generally pushes XTAP.US higher.

Supply and Demand: Like any ETF, XTAP.US's price is subject to market forces. Increased buying pressure relative to selling pressure tends to drive the price up, and vice-versa.

Investor Sentiment: Overall market optimism or pessimism can affect demand for XTAP.US. Positive sentiment often leads to increased investment and higher prices.

Currency Fluctuations: If the underlying assets are in a different currency, exchange rate changes can impact XTAP.US's price when converted back to USD.

Expense Ratio: While not a direct driver of daily price changes, the ETF's expense ratio slowly eats into returns over time, thus affecting its long-term price potential.

Trading Volume & Liquidity: Higher trading volume and liquidity usually lead to tighter bid-ask spreads and more efficient price discovery for XTAP.US.