Crypto enthusiasts are turning their attention to XRP as the anticipation for an XRP ETF is rising rapidly. As the much-awaited approval of Bitcoin ETFs by the SEC has finally happened, XRP has been one of the top beneficiaries so far.
Since the announcement was made, XRP has been printing an impressive price trend. The news has pushed the digital asset beyond the $0.6 resistance level and currently trades at $0.61, with a relative 6% price upsurge based on 24-hour estimation.
Read Also: Bitrue Users Drive XRP Demand with $800 Million Worth of Holdings; 88% Remain Bullish
Bitrue, a pro-XRP crypto trading platform, has sparked XRP price discussions based on Spot Bitcoin ETF. In a post on X before the announcement, Bitrue got the attention of the XRP community by asking for their price predictions after the ETF is approved.
This question got a wide range of responses. However, many of these were bearish responses, ranging from stagnation to a serious decline.
What do you think the price of $XRP will be after the ETFs are approved?
— Bitrue (@BitrueOfficial) January 9, 2024
XRP Army Reacts
Many in the XRP community seem to have lost faith in their token, with one user stating, “62 cents, like always.” Another user had a more bearish outlook, predicting that XRP would trade between $0.54 and $0.56. Some users expect XRP to go lower, with one user predicting $0.15 and another predicting $0.1.
This bearish sentiment from the XRP community is unusual, as XRP has one of the most dedicated and hopeful community members in the crypto space. However, the digital asset has been underperforming lately.
Despite bullish predictions, XRP struggled to regain the $0.6 level after its decline at the start of the year. Its poor performance might have contributed to the lack of faith from community members.
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XRP’s Potential Resurgence
Not everyone in the community subscribed to bearish outlooks. Some community members painted a far more bullish picture, envisioning a significant XRP bull run in the wake of a Bitcoin ETF launch.
One user boldly declared that XRP could surpass its all-time high of $3.84, and the increased investor confidence and mainstream adoption that a Bitcoin ETF might bring could make it happen.
The most ambitious prediction came from an individual who drew parallels between Bitcoin’s recent surge and XRP’s potential. He pointed out that Bitcoin reached $47,000 while the periodic halving event is still waiting to happen. The user thereby speculated that XRP could hit $50 this year. While such a meteoric rise seems improbable in the short term, it shows the fervent optimism within a segment of the community.
Although the Bitcoin ETF is the driving force for this speculation, talks of an XRP ETF have been making the rounds. A top Crypto figure recently predicted when BlackRock will apply for an XRP ETF, which could make the crypto asset become the center of attention in the cryptocurrency sphere.
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