Goldman Sachs, one of the leading banking institutions in the world, recently revealed that it holds a significant amount of XRP ETFs in its portfolio. The news was enough to rattle the cryptocurrency world, displaying the growing institutional interest towards XRP. However, the news did not move XRP price the way it should have, bringing in a pessimistic attitude towards the market in general. Why is the XRP price unable to move despite Goldman Sachs betting on the asset?
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Two Reasons Why XRP Price Is Not Moving Right Now
XRP price is currently sitting at $1.37, down 0.72% in the last 24 hours. The token has lately been a trending topic of discussion, especially after Goldman Sachs revealed its exposure towards XRP ETFs. Per Crypto Patel’s latest post, Goldman Sachs is the largest XRP ETF holder, holding nearly $154M in exposure.
Despite this stellar news, the XRP communities witnessed little to no movement in XRP price, bringing in skepticism into the ecosystem. However, one of the leading reasons for this dormant stance could be the fact that Ripple still needs a heavy institutional push, the one capable of transforming its price for the better.
Secondly, the majority of the liquidity and capital is currently moving into bitcoin and ethereum, leaving altcoins like XRP to stay dormant for now. Once BTC inflates, the impending altcoin rotation could begin, helping XRP price to stabilize in the long run.
XRP Price Prediction: Near Future Targets
According to CoinCodex Ripple stats, XRP price may end up scoring a new high of $5 by 2030.
“XRP is forecasted to hit $ 1.63 by the end of 2026 (+19.17% compared to current rates), $ 5.36 by 2030 (+290.96%), $ 8.08 by 2040 (+489.18%), and $ 13.27 by 2050 (+867.80%). All values represent end-of-year price estimates according to our models.”
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