Over the last few years, XRP has emerged as a prominent contender in the crypto market, captivating the attention of investors and enthusiasts. With its unique attributes and potential for significant growth, XRP’s journey to $25 remains a topic of intense debate.
A recent episode of Crypto Crossfire, a popular crypto podcast hosted by Ben Armstrong (Bitboy Crypto), delved into the potential impact of an XRP ETF on the token’s price. Ajwritescrypto, a panelist on the show and crypto expert, expressed his belief that an XRP ETF could be a powerful catalyst for XRP’s growth.
Read Also: Analyst Predicts XRP Price Surge to Match Bitcoin Trend Within 3 Days
Points for an XRP ETF
He argued that an ETF would provide investors with a convenient and regulated way to gain exposure to XRP, potentially leading to a surge in demand.
Ajwritescrypto also highlighted Coinbase’s IPO performance. According to the panelist, Coinbase has shed most of its initial valuation, now valued at $26 billion. Although Coinbase enjoyed an initial pump, most of that is gone.
He also highlighted that trading Ripple stocks would not directly benefit XRP. In September, as Ripple IPO rumors began intensifying, a crypto and financial expert shared insights into who needed to buy Ripple stocks after the IPO, and who should buy XRP, providing a distinction between both.
Ben Armstrong’s Opinion
While acknowledging the potential benefits of an XRP ETF, Armstrong cautioned against overestimating its immediate impact. He emphasized that the success of an XRP ETF would depend on several factors, including the regulatory environment, investor sentiment, and the overall performance of the cryptocurrency market.
Armstrong pointed out that the crypto market has not seen a major company IPO like this and has no precedent for its effect on the company’s cryptocurrency. He also countered Ajwritescrypto’s opinion of Coinbase’s IPO, describing it as a success.
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Balancing Risks and Rewards
Despite the potential benefits of an XRP ETF and Ripple’s IPO, investors should exercise caution and carefully consider the associated risks. The performance of an XRP ETF and Ripple’s IPO is difficult to predict, and their impact on XRP’s price could be less than anticipated.
A recent fake filing of an XRP ETF sent XRP to almost $0.73, and the community is eager to see what actual XRP ETFs will bring to their favorite cryptocurrency. However, there is nothing concrete yet.
Additionally, the timing of Ripple’s IPO remains uncertain, and any potential impact on XRP’s price would depend on multiple factors. Investors should carefully consider the risks and potential rewards associated with Ripple’s IPO before making any investment decisions.
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