XRP price could surge after XRP ETF approval. Analysts believe such approval could attract more institutional investors to the XRP ecosystem, causing a major price surge. Several crypto analysts have shared their predictions on how ETF approval could impact Ripple price.
Can XRP Hit $1,000 With an ETF?
Some cryptocurrency analysts believe that the price of Ripple could skyrocket to $1,000 if an XRP ETF is approved. Analyst BarriC points to the success of the Bitcoin ETF, predicting that a similar approval for XRP could lead to a major price increase over the next 5-10 years. BarriC believes that new funds flowing into the Ripple ecosystem could fuel significant price increases.
Important Move for XRP: Will It Boost Price?
Another analyst, CryptoTank, argues that an XRP ETF could create a supply shock in the market. Major asset managers like Bitwise and Canary Capital are expected to accumulate large amounts of XRP for their ETFs, which would reduce supply and push prices higher. The success of Bitcoin and Ethereum ETFs supports a similar outlook for Ripple.
Short Term Goal: Hit Previous High
In the short term, XRP is expected to reach its previous high of $3.84. Analysts note that Bitcoin reached a new high shortly after the launch of a spot ETF, and XRP could follow a similar trend. While Ethereum struggled to achieve such gains after the launch of an ETF, XRP could avoid similar selling pressure, giving it an advantage.
Another factor in XRP’s favor is that Grayscale’s XRP Trust has yet to be converted into an ETF. With only $2.1 million in assets under management, the approval of XRP ETFs could have a much more significant impact. The outcome of the Ripple lawsuit is also expected to speed up the ETF approval process.
SEC Lawsuit and ETF Approval
The SEC’s lawsuit against Ripple remains a key factor in the approval of an XRP ETF. Former SEC official Marc Fagel said the Commission could appeal the secondary sale of XRP, The Bit Journal reported. If the court rules that XRP is not a security, the likelihood of an ETF approval would increase, leading to a significant price surge for XRP.
Can XRP Reach $1,000?
With these potential developments, XRP is expected to see a strong rally. The approval of an XRP ETF could create significant demand within the XRP ecosystem, pushing the price higher. While XRP may hit its previous highs in the short term, analysts predict that in the long term, the price could rise to $1,000. This scenario is becoming increasingly likely with the participation of large institutional investors. However, the outcome of the Ripple lawsuit will be a key factor in determining the speed of this process.
