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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.