The cryptocurrency market is anxiously awaiting when the next token could join Bitcoin and Ethereum on the investment market. It looks like that has taken a step towards actualizing amid a recent Grayscale filing. Yet, the question is, can an XRP ETF drive the price to $4.50? Well, let’s see what the experts are saying.
For the last several weeks, all eyes have been on Ripple. The token has long been viewed as a contender for the next exchange-traded product (ETP) for the sector. If that does come to fruition, it could be monumental for the price of XRP, which has been stuck around $3 for much of the week.
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XRP ETF Could Propel Price as Grayscale Files to Convert Trust
The cryptocurrency market has undergone a massive shift in recent months. With the incoming US presidential administration looking to greatly shift crypto policy, few assets have flourished as much as Ripple (XRP). It was just last year that the asset was engaged in a years-long lawsuit with the US Securities and Exchange Commission (SEC).
Now, all eyes are on the potential approval of an XRP ETF, as the price could soon be propelled to $4.50. The asset has enjoyed a significant bounce back, up more than 500% since this time last year. However, the arrival of a third crypto-based ETF for Ripple could have the asset skyrocketing.
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Over the last seven days, XRP has stagnated, dropping 1.9% according to CoinMarketCap. However, a wider look fares nicely for the asset. Over the course of the last 30 days, the cryptocurrency has increased by more than 36.79%.
Amid Grayscale’s recent filing, experts are projecting a price increase of 27% that would have it trade at a new all-time high of $4.10. That projection aligns with similar sentiments that forecast the asset to reach a price above the $4 mark at some point in 2025.
According to the cryptocurrency price market prediction platform, CoinCodex, XRP is expected to break through $4 in March. Specifically, the analysis projects the asset to reach a monthly high of $4.75 that month. Indeed, that would represent a 53% increase from its current price.
