Some market commentators believe that the approval of ETF approval of XRP price performance may look like a “children's play”.
In particular, nine applications of XRP Exchange-Traded Funds (ETF) are currently in the United States. In the last quarter of 2024, five asset managers, including Bitwise and Wisdomtree, submitted the XRP ETF application.
The momentum has reached the New Year, and four asset management companies participated in the race. Includes the most prominent names to participate in competition Gracecale and coin sharing.
On the other hand, Fox Business News Insider Hint I suggested The Crypto community was able to see the growing activities around the XRP ETF documents this week. Based on this, some speculate that Blackrock may be participating in momentum.
Currently, market participants are seeing important similarities between those who come to XRP and the situation developed for bitcoin.
Remember that there was a large frenzy around the Bitcoin Spot ETF Filing before approval. Financial giants seeking bitcoin spot ETFs included black rock, faithful, bitwise, wisdom tree, and other seven others.
By January 10, 2024, the SEC has accelerated all 11 Bitcoin Spot ETF Filing. Currently, XRP follows a similar path, and XRP ETF filing is being submitted one after another.
In the tweet, “Digital Asset Investor”, a renowned influencer of the XRP community, combines the final release of XRP ETF and the resolution of the Ripple litigation, like the launch of Bitcoin's aptiations post-otf. I have announced that I can see it.
“Digital assets are not wound as XRP” he I said。
Bitcoin price after ETF approval
In the context, on the date of the Bitcoin ETF, Bitcoin was traded at a minimum of $ 44,483. A few weeks later, especially in March 2024, Bitcoin peaked at $ 73,750.
One year after the Bitcoin ETF approval, ETF publishers accumulated over 1.1 million BTCs, and the price of bitcoin responded to this purchase pressure.
Bitcoin reached a highest $ 109,114 in history last month, an increase of 145 % from the price he had traded before the ETF was introduced.
On the other hand, XRP supporters believe that the price of XRP may be even better. They argue that XRP has several catalysts in the story, and the price can increase the approval after the ETF.
After the XRP potential evaluation after approval
In particular, according to the estimated JPMORGAN, XRP ETF You can attract $ 4 to 8 billion With a new investment within 6 months of approval.
Another analysis by Crypto Basic suggests that if the price of the XRP is $ 23 or a $ 500 million ETF investment every day, the market capitalization can reach $ 1.3 trillion.
Other independent commentators such as Ben Armstrong have previously proposed by XRP ETF and Ripple's final IPOs. You can drive the value of XRP to $ 25.
Although these estimates remain presumed, it is still unknown whether XRP can actually exceed the success of Bitcoin Spot ETF. For context, Bitcoin spot ETF, especially black rock spot ETF One of the most successful ETFs in history It is far exceeding the performance of gold ETF.
Disk Lamier: This content is provided by information and should not be considered as financial advice. The views described in this article may include the author's personal opinion, and does not reflect the basic opinions of cipher. Readers recommend a thorough investigation before making an investment decision. Crypto Basic is not responsible for financial losses.
