Asset Managers File for Spot XRP ETFs Amid Regulatory Developments

Recent developments in the XRP market are drawing attention due to several key actions:

  • Asset managers have updated filings for spot XRP exchange-traded funds (ETFs), with tickers such as GXRP and XRPZ.
  • Ripple's acquisition of GTreasury for $1 billion indicates a move towards the $120 trillion corporate treasury market.

Price Predictions and Market Sentiment

  • An analyst, 24hrscrypto1, suggests XRP might reach $100 before 2030, representing a 4,000% increase from its current trading level around $2.60.
  • Matthew Brienen, COO of CryptoCharged, considers a $100–$1,000 price range possible within five to ten years, driven by cross-border payment use cases.
  • Linda Jones notes growing scarcity of XRP, evidenced by fewer coins purchasable with the same amount of money compared to past prices.

Institutional Accumulation and Supply Dynamics

  • There is speculation that banks and funds are accumulating XRP, which could lead to a supply-demand imbalance and higher prices if liquidity diminishes.
  • The long-term intentions of institutional holders regarding XRP usage remain uncertain.

Community Influence and Regulatory Developments

  • Community voices like UnknowDLT emphasize XRP's potential as a major opportunity, maintaining retail interest.
  • Recent volatility was evident when XRP fell to $1.20 amidst broader market pullbacks.
  • The approval of spot XRP ETFs hinges on regulatory procedures by the US securities regulator.
  • Filings by Grayscale, Bitwise, and Franklin Templeton await regulatory approval to expand market access.