How High Could XRP Price Go If An XRP ETF Is Approved?

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As a seasoned researcher with years spent navigating the ever-evolving landscape of the cryptocurrency market, I find myself intrigued by the prospect of an XRP ETF. My personal journey in this industry has been marked by countless market fluctuations and trends, yet the potential impact of an XRP ETF on price remains a fascinating topic to explore.

If the U.S. Securities and Exchange Commission (SEC) approves pending applications for an XRP Exchange Traded Fund (ETF), it’s likely to be a significant boost for the XRP price. Various crypto experts predict that the XRP value may increase due to the potential influx of institutional investors drawn by the ETF.

XRP Price Could Reach $1,000 With ETF

According to crypto expert BarriC, if the Securities and Exchange Commission (SEC) were to approve an XRP Exchange-Traded Fund (ETF), it could potentially push the price of XRP up to $1,000 over the next five to ten years. BarriC believes this is possible due to the positive impact Bitcoin ETFs have had, suggesting that a similar trend could occur for XRP. He explains that the approval of an XRP ETF would bring in substantial new investment, triggering significant price increases within the XRP market.

Crypto expert CryptoTank predicts the price of XRP could skyrocket to $1,000 due to potential Exchange-Traded Funds (ETFs). He emphasized the significant amount of XRP tokens that firms such as Bitwise and Canary Capital might own for their respective XRP ETFs. This accumulation by these asset managers, in his view, could create a shortage or “supply shock,” driving up the price of XRP.

In simpler terms, based on the value held by Bitcoin and Ethereum ETFs, it’s possible that XRP ETFs might also attract some demand. These ETFs could potentially hold a significant amount of money in XRP, similar to how the other two types of ETFs hold billions for Bitcoin and Ethereum.

A Rise To Current ATH In The Short Term

In the near future, there’s a chance that the price of XRP could revisit its previous peak of $3.84. This optimistic outlook stems from the fact that the price of Bitcoin quickly reached a new record high soon after Spot Bitcoin ETFs became available for trading. While Ethereum hasn’t set a new all-time high since the debut of Spot Ethereum ETFs, it’s important to note that XRP may not experience the same level of selling pressure as Ethereum did due to Grayscale Ethereum ETFs.

Grayscale has yet to apply to convert its Grayscale XRP Trust to an XRP ETF, meaning there is no selling pressure if the SEC approves Bitwise and Canary Capital’s applications today. Moreover, the Grayscale XRP Trust holds only about $2.1 million in assets under management (AuM). Therefore, the XRP ETFs are downright bullish for the crypto.

For now, attention continues to center around the ongoing SEC Ripple appeal, as any advancements in this case could potentially accelerate the SEC’s decision regarding an XRP Exchange-Traded Fund (ETF). As hinted by former SEC official Marc Fagel, it is expected that the US Securities and Exchange Commission (SEC) will challenge the secondary sales of XRP. This development is considered favorable for the price of XRP, as it reinforces the viewpoint that the court’s ruling, which deemed XRP not to be a security on its own, is supported by the SEC.

In simple terms, the Commission can only deny the current proposals if they claim that XRP qualifies as a security. But if the SEC doesn’t object, it paves the path for the introduction of the ETFs proposed by Bitwise and Canary Capital.

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2024-10-12 20:28