Much later, she reiterated that it was natural for the token to attract applications because XRP meets all the required criteria to launch such a widespread product on the market.
Factors Supporting the Launch of an XRP ETF
In an interview with The Block, Long shared that it would be “reasonable” to expect XRP ETF applications from large institutions. To support her claim, she shared how XRP checks all the boxes for a crypto ETF. She first highlighted XRP’s popularity, adding that Ripple is currently ranked as the seventh-largest cryptocurrency by market capitalization.
Second, she shared that XRP is the most traded asset today, showing great demand for Ripple in the market. The token is now available for trading on nearly 100 cryptocurrency exchanges, cementing its foothold in the sector.
Much later, people reiterated the 2023 XRP court ruling, clarifying that Ripple is not a security, as the biggest reason why the launch of an XRP ETF should be considered a natural process. Long concluded that XRP and Bitcoin are the only assets with a clear legal position and that launching an XRP ETF must be considered a fair and reasonable process.
“In terms of ETFs, I think it would make sense for someone to launch an XRP ETF, because XRP has been trading in the top 10 for how long, probably its entire existence. And on top exchanges like Coinbase and Kraken. It’s definitely in the top 5 in terms of daily trading volume.”
XRP futures price
With the launch of the Solana ETF in the mix, the launch of an XRP ETF doesn’t seem like an elusive dream. According to CoinCodex, XRP’s price action has been slow, but the token’s momentum continues to point to positive developments in the future.
According to CC, XRP could spike and increase by 20% by mid-July to trade at $0.57.
“According to our current XRP price prediction, XRP price could increase by 20.75% and reach $0.5751 by July 28, 2024. According to our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 47 (neutral). XRP has recorded 11/30 (37%) green days with a price movement of 3.60% over the past 30 days.”
The platform predicts the token will increase and reach the $1 mark by the end of this year, 2024.
“XRP could trade between $0.300139 and $1.4937. If the higher price target is achieved, XRP could increase 213.36% and reach $1,493.”
See also: XRP ETF and Cardano ETF are now unlikely
