XRP Price Could Reach $1,000 With ETF

An XRP ETF is undoubtedly a huge positive for the XRP Price if the pending applications eventually get approved by the US Securities and Exchange

An XRP exchange-traded fund (ETF) is a highly anticipated development within the crypto community. Several crypto analysts have weighed in on how the crypto’s price could be impacted by an ETF, considering that it would attract more institutional investors into the XRP ecosystem.

As the US Securities and Exchange Commission (SEC) continues to review applications for an XRP ETF, several crypto analysts have shared their thoughts on how the crypto’s price could be affected. Several analysts believe that XRP could reach new all-time highs, while others opine that the crypto’s price could reach $1,000 in the coming years.

Crypto analysts like BarriC have suggested that the crypto’s price can rise to as high as $1,000 if the SEC approves an XRP ETF. The analyst cited the success of the Bitcoin ETFs to explain why he is confident the XRP price can reach such an ambitious price target within the next five to ten years. BarriC mentioned how new money would flow into the XRP ecosystem through these funds, leading to massive price rallies.

"I think XRP will 1000x from here, and it will reach a price of $1,000 within the next five to ten years, especially if the XRP ETF gets approved by the SEC. A lot of people think that $1,000 is too high for XRP, but I think it’s possible, especially if you look at the Bitcoin ETFs.

"When the Bitcoin ETFs launched, a lot of people thought that the BTC price would reach a top, but instead, we saw the BTC price rally by another 200%. I think something similar will happen with XRP, especially if we consider the fact that the Grayscale XRP Trust has only $2.1 million in assets.

"So, when the Bitwise and Canary Capital XRP ETFs launch, there will be a massive demand for XRP tokens, and we could see the XRP price rally to $1,000."

CryptoTank also claimed that the XRP price can reach $1,000 thanks to these potential ETFs. The analyst noted how much XRP tokens asset managers like Bitwise and Canary Capital could potentially hold for their respective XRP ETFs. In line with this, he believes that there would be a supply shock as these asset managers accumulate more tokens for their funds.

"A lot of people are wondering how high the XRP price can go if the Bitwise and Canary Capital XRP ETFs get approved by the SEC. I think that there will be a massive supply shock, and the XRP price will reach $1,000.

"Let’s do the math and see how much XRP Bitwise and Canary will need to buy for their respective XRP ETFs. According to the latest data from SoSoValue, the Spot Bitcoin ETFs have about $58.66 billion in net assets, while the Spot Ethereum ETFs have about $6.74 billion.

"Now, if we assume that the XRP ETFs get even a fraction of the demand for the Spot BTC and ETH ETFs, we are still looking at the XRP ETFs having several millions of dollars in net assets.

"For example, if the XRP ETFs get even 10% of the demand for the Spot BTC ETFs, that's still several millions of dollars in XRP tokens that Bitwise and Canary will have to buy from the market to meet the demand for their respective XRP ETFs."

CryptoSlate covered the topic of how the Bitcoin and Ethereum ETFs have impacted the prices of BTC and ETH in a previous report. For context, the Spot Bitcoin ETFs hold $58.66 billion worth of BTC in net assets, and the Spot Ethereum ETFs hold $6.74 billion worth of ETH in net assets.

Therefore, the XRP ETFs could witness a fraction of the demand for the Spot BTC and ETH ETFs, holding millions of dollars in XRP as net assets. This could lead to a massive supply shock, especially if we consider that the Grayscale XRP Trust has only about $2.1 million in assets under management (AuM).

In the short term, the XRP price can reach its current all-time high (ATH) of $3.84. This is possible considering the Bitcoin price surged to a new all-time high not long after the Spot Bitcoin ETFs went live. Although the ETH price hasn’t reached a new all-time high since the launch of the Spot Ethereum ETFs, it is worth mentioning that XRP won’t face the kind of selling pressure ETH faced thanks to the Grayscale ETH ETFs.

Grayscale has yet to apply to convert its Grayscale XRP Trust to an XRP ETF, meaning there is no selling pressure if the SEC approves Bitwise and Canary Capital’s applications today. Moreover, the Grayscale XRP Trust holds only about $2.1 million in assets under management (AuM). Therefore, the XRP ETFs are downright bullish for the crypto.

In the meantime, the focus remains on the SEC Ripple appeal, as

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