XRP is reportedly nearing a juncture that could significantly alter its valuation and market position.
According to analyst J4b1, a substantial upward price movement might be initiated by XRP’s inclusion in the futures Exchange Traded Fund (ETF) sector, a pattern previously observed with the price appreciation of Bitcoin, Ethereum, and Solana following similar introductions.
CME Group to Debut XRP Futures ETFs on May 19th
A pivotal development involves the CME Group’s plan to introduce XRP futures ETFs, with a launch date set for May 19th.
This initiative is regarded as a significant milestone, potentially mirroring the positive market reactions experienced by BTC and ETH after their respective futures ETF approvals.
In a recent social media communication, J4b1 emphasized that this event could represent a crucial inflection point for XRP.
Ripple’s CEO, Brad Garlinghouse, commented on the development, stating, “While overdue in a bunch of ways, this is an incredibly important and exciting step in the continued growth of the XRP market.”
This move occurs as more than 80 applications for cryptocurrency ETFs are pending approval in the United States, of which approximately 20 are specifically for XRP.
The appointment of Paul Atkins, who is perceived as having a favorable view of cryptocurrencies, as the new Chair of the Securities and Exchange Commission (SEC) signals a notable shift from the previous administration’s regulatory posture.
This leadership change is speculated to potentially expedite the approval process for spot ETFs and pave the way for broader mainstream adoption.
Undercurrents of Institutional XRP Engagement
There are indications that Ripple is advancing towards a settlement with the SEC, an outcome that could eliminate a primary obstacle to XRP’s comprehensive adoption.
Demonstrating existing global institutional interest, the first XRP spot ETF, known as XRP H11, is already accessible in Brazil through Hashdex.
Simultaneously, an increase in liquidity is being observed across various markets.
The Federal Reserve has reportedly created an avenue for banking institutions to engage with digital assets, and central banks are purportedly exploring the integration of cryptocurrencies into their reserve holdings.
These developments suggest that governmental bodies and established financial institutions are discreetly making preparations for a significant transition in the financial landscape, with XRP playing a central role.
Analyst Projections for Substantial XRP Price Growth
Cryptocurrency analyst BarriC suggests that the current window to acquire XRP is analogous to the opportunity present in 2017, before its significant price escalation.
He forecasts that XRP will comfortably surpass the $3 and $5 price points, subsequently aiming for a range of $10 to $20 as institutional investment begins to flow into the asset.
He even posits a long-term XRP valuation reaching between $100 and $1,000, particularly if major banks adopt it for international transaction settlements.
“The moment one major bank officially uses XRP for payments, everything changes,” BarriC asserted.
“We’ll leave the 4-year price cycles behind, and XRP will never be this cheap again.”
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