Canary

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/xrp-price-could-surge-following-sec-etf-approval/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP Price Could Surge Following SEC ETF Approval</a> 
There is speculation that the price of XRP could see a significant increase if the U.S. Securities and Exchange Commission (<a href="https://en.coin-turk.com/coinshares-reports-weekly-crypto-fund-flows/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC</a>) approves ETF applications related to it. Crypto analysts believe that such approvals could attract new institutional investors to the XRP ecosystem.
<h2 style="text-align: justify" id="strong-xrp-price-target-of-1-000-strong">XRP Price Target of $1,000</h2>
Analyst BarriC predicts that if the SEC approves the XRP ETF, the <a href="https://en.coin-turk.com/book-of-meme-faces-market-challenges/" data-wpel-link="internal" rel="noopener noreferrer nofollow">token</a> could rise to $1,000 in the long term. Referencing price movements following the launch of Bitcoin ETFs, BarriC suggests a similar rise could occur for XRP. According to him, XRP could reach this level within the next 5 to 10 years, driven by substantial institutional investments.
Another analyst, CryptoTank, points out that large funds like Bitwise and Canary Capital may invest heavily in XRP ETFs. This influx of investment could lead to supply constraints in the market, potentially triggering price increases.
<h2 style="text-align: justify" id="strong-grayscale-and-sec-case-implications-of-recent-developments-strong">Grayscale and SEC Case: Implications of Recent Developments</h2>
Grayscale’s lack of application to convert its XRP Trust into an ETF suggests that selling pressure may remain light. This scenario strengthens the potential positive impacts on XRP’s price if funds like Bitwise and Canary Capital receive ETF approvals. Grayscale reportedly manages XRP assets worth approximately $2.1 million.
Former SEC official Marc Fagel anticipates that the SEC will not contest XRP’s sales in secondary markets during the Ripple case. Fagel indicates that this could be a positive development for XRP prices, noting that the SEC’s failure to classify XRP directly as a security may pave the way for ETFs.
The SEC’s stance in the Ripple case will largely determine XRP’s future. If the SEC abandons its claim that XRP is a security, it is believed that ETF applications by major players like Bitwise and Canary Capital could be quickly approved. Such developments may facilitate new flows of investment into XRP, helping to elevate prices.
The inclusion of institutional investors following ETF approval has the potential to shift XRP’s market dynamics. If developments progress positively, it is not out of the question for XRP to set new records. However, it is clear that the outcomes of the Ripple case and the SEC’s final decisions will play a crucial role in this process.
The post <a href="https://en.coin-turk.com/xrp-price-could-surge-following-sec-etf-approval/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP Price Could Surge Following SEC ETF Approval</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

XRP Price Could Surge Following SEC ETF Approval

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