XRP ETF Could Push Price to $1000, Analysts Predict

According to crypto experts like BarriC, the price of the cryptocurrency might reach $1000 if an XRP ETF is approved by the SEC.

Financial analysts are suggesting that XRP could see a massive price surge to $1,000 if the SEC approves XRP ETFs, sparking excitement among investors with the anticipation of institutional funds entering the market.

XRP ETF May Push Price to $1,000: Analysts

According to crypto experts like BarriC, if an XRP ETF gets approved by the SEC, then we might see the cryptocurrency hit prices of $1,000.

The analyst is convinced that XRP can achieve such a price target within the next five to ten years, especially after observing the success of Bitcoin ETFs. He adds that these funds will be entering the XRP ecosystem with a fresh batch of capital, which will lead to massive price surges, as noted by BarriC.

Crypto expert CryptoTank believes that these potential ETFs are the reason XRP can hit $1,000.

The analyst noted the possible holdings of XRP coins by Bitwise and Canary Capital, two XRP ETF asset managers. He predicts a supply shock as a result of these asset managers accumulating more tokens for their funds.

According to SoSoValue data, Spot Bitcoin ETFs have a net asset value of $58.66 billion BTC, while Spot Ethereum ETFs have a net asset value of $6.74 billion ETH. Therefore, XRP ETFs, which hold XRP as net assets, may have demand that is substantially lower than that of the Spot BTC and ETH ETFs.

XRP All-Time High In Sight

There is a short window of opportunity for the XRP price to reach its current all-time high of $3.84 again. This is a distinct possibility, especially considering that Bitcoin's all-time high came shortly after the launch of the Spot Bitcoin ETFs.

It's also worth noting that, unlike Ethereum, which faced selling pressure due to the Greyscale ETH ETFs, XRP will not experience the same fate because Canary Capital and Bitwise have yet to launch ETFs.

Rapid Market Shifts With SEC Approval

If Bitwise and Canary Capital's applications to convert the Greyscale XRP Trust to an XRP ETF are approved by the SEC today, there will be no selling pressure because Greyscale has yet to launch its ETF. The assets under management (AuM) for the Greyscale XRP Trust are a mere $2.1 million. As a result, XRP ETFs are a major positive in the crypto market.

In other news, all eyes are on Ripple's appeal to the SEC; the speed at which the agency approves an XRP ETF could be influenced by the developments in this case, as reported by Coingape.

Ripple's Legal Battle May Impact ETF Approval

Marc Fagel, a former SEC officer, has stated that the US SEC will be contesting secondary sales of XRP.

The confirmation that the Commission agrees with Judge Analisa Torres's ruling that XRP is not a security in and of itself bodes well for the cryptocurrency's price.

If the Commission insists that XRP is a security, it will be the sole basis for denying the current applications. However, if the SEC has no objections, Bitwise and Canary Capital's ETFs will be able to go live.

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