The world of cryptocurrency is a fascinating one, filled with innovation and a lot of speculation. Recently, XRP has been the talk of some crypto enthusiasts due to its current and expected prices.
Despite trading below $1 since late 2021, XRP community members believe the token is undervalued and on track for significant growth. Recent predictions from prominent figures in the XRP ecosystem, including former Ripple Labs Director Sean McBride and Ripple CEO Brad Garlinghouse, fuel this optimism.
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Potential for an XRP ETF
Given XRP’s position as the sixth-largest cryptocurrency, many community members expect it to attract investment products similar to those available for Bitcoin (BTC) and Ethereum (ETH), such as exchange-traded funds (ETFs).
McBride raised discussions regarding this possibility by suggesting that an XRP ETF could be launched by the end of 2024 or, at the latest, by 2025. Notably, the desire for an XRP ETF existed before the approval of the first spot Bitcoin ETF in the United States.
A false filing for an XRP ETF linked to investment giant BlackRock emerged in late 2023, although the firm denied involvement. Even without official confirmation, the event highlighted the community’s interest in an XRP ETF as the price of the digital asset temporarily increased.
Furthermore, Garlinghouse’s remarks align with McBride’s prediction. The Ripple CEO expressed his belief that “numerous ETFs around different cryptocurrencies” are inevitable. He emphasized the historical trend of diversification within the industry, suggesting that an XRP ETF is not out of the question.
Ripple IPO Speculations
Another significant factor influencing the XRP community’s sentiment is the potential for Ripple Labs to go public through an Initial Public Offering (IPO). After months of speculation, Garlinghouse acknowledged that the company is exploring this option, but outside the United States, due to unclear regulatory conditions. While the exact timeline for an IPO remains uncertain, McBride expects it to happen in 2025.
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Impact on XRP Price
If these predictions materialize, they could significantly impact the price of XRP, potentially pushing it towards ambitious price targets. Notably, market analyst EGRAG recently outlined a potential path for XRP to reach $7.
It is important to remember that these predictions are based on speculation and should not be considered financial advice. The cryptocurrency market remains highly volatile, and numerous factors can influence XRP’s future price trajectory.
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