XRP ETF Debuts with $37M Volume as Price Targets $10 Rally

Ripple's native cryptocurrency XRP is experiencing a 5% decline over the past week, yet analysts remain optimistic about a potential rally to $10 and beyond. The launch of Rex-Osprey XRP ETF (XRPR) has increased market interest.

XRP Price Outlook

The US Federal Reserve's interest rate cuts have not significantly affected crypto market activity.
XRP is currently fluctuating around $3.0 as investors await a potential rally.
Analyst Javon Marks anticipates a 226% increase in XRP price, possibly reaching $9.90, with a breakout potentially leading to $20.
On-chain data supports a bullish outlook, showing sustained accumulation since August 22.
Heavy positioning in the $2.70–$3.00 range could lead to a move towards the $5.00–$5.50 range in Q4.

XRP ETF Impact

The launch of the XRP ETF (XRPR) drove over $37 million in trading volume on its debut day.
Bloomberg’s Eric Balchunas noted the impressive performance compared to typical new ETFs.
The SEC's approval of generic listing standards for crypto ETFs increases the likelihood of a spot XRP ETF.
Ripple CTO Stuart Alderoty highlighted that these developments enhance regulatory clarity and investor confidence.