The discussion revolves around the potential approval of an XRP-based exchange-traded fund (ETF), which could positively impact the token's price in the mid-term.
Potential Price Targets
Following the launch of ETFs for Bitcoin and Ethereum in the US, many are curious about the possibility of an XRP ETF. Companies like Bitwise and Canary Capital have already filed applications in the US. There are speculations that approval could push XRP's price up to $1.50, and eventually to $2.50 if the Ripple v. SEC lawsuit concludes favorably.
Watch Out for Sell the News Effect
While ETF approval could lead to XRP's price surge, there's a risk of a decline post-announcement. This has been seen before with Bitcoin, where prices initially rose in anticipation of approval, only to fall afterward.
Although the approval of an XRP-based ETF could be a milestone event for the crypto market, investors should carefully assess potential risks and market sentiment.