Will XRP ETFs trigger a massive price jump for XRP? Let’s explore the possibility.
The ETF Effect: A “Giant Vacuum Cleaner” for XRP
A crypto analyst, known as “Good Morning Crypto,” suggests that XRP ETFs could act like “giant vacuum cleaners,” sucking up XRP from the market. Every ETF investment removes XRP from circulation, reducing supply and potentially increasing demand.
Currently, nine companies have applied for XRP ETFs in the US, awaiting SEC approval. The potential entry of BlackRock, a massive asset manager, could significantly accelerate this process and boost demand. The SEC’s approval would likely cause a surge in investor interest, pushing the price upward.
Beyond ETFs: A Perfect Storm Brewing?
The analyst envisions a scenario where new US laws and regulations (on market infrastructure, taxes, and stablecoins) are passed. This clarity could encourage businesses to use XRP for payments, creating daily demand. Coupled with ETFs continuously buying XRP, this creates a powerful upward pressure.
Businesses might even start “front-loading” – buying XRP now in anticipation of future price increases. This, combined with ETF demand, could be a “perfect storm” for a price surge.
XRP Price Predictions: Reaching for $9?
Some analysts predict XRP could skyrocket to $9.08. Charts show a “Bull Pennant” pattern, a technical indicator often preceding significant price increases. While the price is currently consolidating, the analyst believes it’s on track, respecting key support levels and building upward pressure. Key support levels are around $1.97 and $0.94, with a potential target of $9.08.
