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The potential approval of an XRP ETF is looking more likely, which is bullish for the XRP price. Although XR hasn’t reacted positively to the recent ETF news, this fund could contribute to the projected rallies for the crypto. How Will An XRP ETF Impact The XRP Price An XRP ETF is undoubtedly a positive for the XRP price, as it will drive institutional funds into the XRP ecosystem, which could lead to a massive surge for the crypto. In fact, approval of the pending ETF applications could be one of the catalysts for XRP’s projected rallies in this market cycle. Crypto analyst Dark Defender recently predicted that the XRP price could rally to $8 if it holds the crucial support level at $3. However, from a fundamental standpoint, approval of an XRP ETF could be what drives XRP to this price target. It is worth mentioning the impact that the Spot Bitcoin ETFs had on the Bitcoin price, as it rallied to a new all-time high (ATH) a few months after the BTC ETFs launched. Similarly, the XRP price could rally to a new ATH and even reach this $8 price target if the XRP ETFs eventually launch. Meanwhile, there is also the possibility of the crypto rallying to as high as $27 in this market cycle. Crypto analyst Egrag Crypto recently revealed that the crypto was mirroring its 2017 pattern. Based on this, the analyst predicted that XRP could rally to $27 from its current level. Situation Of Things Six asset managers, Bitwise, Canary Capital, Grayscale, WisdomTree, REX Shares, and 21Shares, have all filed to offer an XRP ETF. The CBOE BZX Exchange recently filed 19b-4s with the US SEC to list and trade XRP ETFs offered by Bitwise, Canary Capital, 21Shares, and WisdomTree. Despite this development, the…

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Filed under: News - @ February 8, 2025 4:22 am