With Bitcoin and Ethereum already dominating the ETF market, investors have been keenly speculating on the next cryptocurrency to gain regulatory approval. The popular belief was that Solana would be the next to get an ETF. However, Grayscale has surprised the crypto community by announcing the first XRP trust. Analysts are now predicting that within the next 4 to 8 months, we could see the launch of the first XRP ETF. If this happens, XRP’s price might experience a significant surge, potentially reaching its previous all-time high of $3.40.
XRP ETF Next In Line
Ripple (XRP) is now considered a prime candidate for potential ETF approval. Ripple’s CEO, Brad Garlinghouse, has expressed a strong belief in the inevitability of an XRP ETF. Garlinghouse is optimistic about the crypto market reaching a $5 trillion valuation, driven by the success of projects within the decentralized finance sector.
Ripple recently won a crucial legal battle against the SEC, which ruled that XRP is not a security. This victory has opened new opportunities for XRP, positioning it as a serious contender in the ETF race alongside Bitcoin and Ethereum.
Grayscale Launched XRP Trust
Grayscale has taken a significant step by launching the U.S.’s first XRP trust. This closed-end fund aims to provide accredited investors with direct exposure to XRP. While both trusts and ETFs offer investment options, they have notable differences.
ETFs require SEC approval and cater to retail investors, whereas trusts are aimed at accredited investors and face fewer regulatory hurdles. However, a trust can transition into an ETF if it receives the necessary regulatory approval, as demonstrated by Grayscale’s Bitcoin and Ethereum trusts.
XRP ETF Approval Could Hit $3.4
Ripple’s XRP token saw a 6% price surge following the announcement of the U.S.’s first XRP trust by Grayscale. Although the price has since settled at $0.570, speculation about the approval of an XRP ETF continues to grow.
Market expert Doctor Profit believes that within the next 4 to 8 months, the industry might witness the first spot XRP ETF, following Grayscale’s trust launch. This prediction aligns with the ongoing trends and the strategic moves within the crypto investment landscape.
“Always told you that the next ETF after BTC and ETH will be XRP and not SOL as many people were claiming and talking about. My report about XRP outlined this many times. Today Grayscale announced the first XRP trust. Most likely in 4-8 months you see the first XRP ETF 🤝” — Doctor Profit 🇨🇭 (@DrProfitCrypto) September 12, 2024
Analysts suggest that if an XRP ETF gains approval, it could drive XRP’s price back to its previous all-time high of $3.40. This potential surge could make XRP one of the most lucrative investment options in the cryptocurrency market.
