XRP Faces Market Test with Pending ETFs
- Market commentator Robert Ledferd suggests XRP could be seen as a “joke” if ETFs do not push its price to double digits.
- ETFs are expected to bring massive institutional inflows, similar to Bitcoin and Ethereum.
- XRP is currently trading at $2.3, requiring over a 320% increase to reach above $10.
- For meaningful progress, XRP must break and hold above the $3-$3.65 range.
- A move to $4 would imply a market cap of $240 billion, while reaching $10 would exceed $600 billion.
- The first US Spot XRP-backed ETF by Canary Capital began trading on November 13, with ticker XRPC.
The launch of XRP ETFs is seen as a crucial test for the cryptocurrency’s market perception and potential price growth. If institutional inflows mimic those of Bitcoin and Ethereum, significant price increases could follow.
With XRP trading at $2 .3 , achieving double digits would require substantial gains . The success of these ETFs will be measured by their ability to drive such growth . (Source )
