XRP price jumps on rumors of a BlackRock ETF filing, fueling hopes of a breakout above $3 as analysts predict further upside.
With growing rumors that BlackRock ETF may soon register for an XRP-spot ETF, XRP may be poised for a breakout above the $3 threshold.
According to experts, major investors may become more interested as a result, which might spur new adoptions and change the course of XRP.
Awaiting Approval Of BlackRock ETF, XRP Price Surges
As talk of a BlackRock ETF grew, the price of XRP saw extraordinary rises, indicating positive momentum.
This also coincides with the SEC and Ripple meeting to dismiss the company’s cross-appeal, which will finally end the lawsuit.
Although BlackRock has not formally filed yet, insiders indicate that applications for the Solana (SOL) and XRP ETFs may be submitted at any time.
An end to Ripple’s legal dispute with the SEC is likely the catalyst for accelerating approval and releasing demand from Wall Street.
Xaif, a cryptocurrency enthusiast, added to the discussion by saying:
“BlackRock $XRP and SOL ETF filings could happen anytime soon. XRP holders, get ready for a big bang!”
Trump’s Truth Social platform has also applied for a “Crypto Blue Chip ETF,” which would own XRP and other primary tokens.
In the meantime, the ProShares Ultra XRP ETF (UXRP) was just added to the DTCC’s product lineup.
This implies that the market is preparing for further XRP ETF choices.
Real fund flows are indicating genuine interest, not just conjecture.
Since its April inception, the Teucrium 2X Long Daily XRP ETF (XXRP) has consistently attracted weekly investments. Its assets are presently close to $160 million.
This is impressive given that its expense ratio of 1.89% is far greater than that of well-known ETFs, which generally charge less than 0.25%.
Notably, analysts at JPMorgan anticipate that spot XRP exchange-traded funds (ETFs) may be authorized later this year.
They predict these ETFs might draw up to $8 billion in financing during the first year.
As money shifts from larger assets to alternatives, this might significantly raise the price of XRP.
Analyst Projects $9 As Potential Price, XRP Eyes $3 Next
Following a 4.83% rally the day before, the price of XRP rose by 6.1% in the early hours.
The overall crypto market capitalization increased to $3.56 trillion due to this performance, which exceeded the 4.53% gain of the broader crypto market.
According to experts, $3 would be the next primary target if the price of XRP increases beyond $2.56.
According to a post by cryptocurrency researcher Javon Marks, the token may rise as much as $9.631, a 251% increase from its current value.
On the other hand, if the altcoin drops below $2.50, it may be vulnerable to downside support levels of $2.40 and $2.30.
However, sentiment rises as anticipation about BlackRock ETFs grows and current fund inflows increase.
