XRP has recently been in the spotlight due to its legal victories and rising interest from investors. With 17 ETF filings and the growing enthusiasm of major institutional investors, the price of XRP might see a rapid increase.
XRP Dominates ETF Filings
In the United States, there are currently 17 ETF applications related to XRP. Companies like Grayscale, Fidelity, and VanEck have already submitted their filings. These ETFs could attract significant investments from institutional investors, potentially causing a substantial increase in XRP’s price.
Are Big Institutions Buying XRP?
Apart from retail traders, XRP is also attracting large institutional entities. Ripple is partnering with 12 central banks worldwide to create digital currencies, and many are using XRP for their projects. This steady demand contributes to a slow but steady rise in the cryptocurrency's price.
Ripple's Global Partnerships
Ripple's partnerships with major companies and governments could also impact its price. There are talks with US banks purchasing XRP in bulk. This adds pressure for the price to rise, especially as central banks start developing their digital currencies on XRP’s blockchain.
With 17 ETF filings and increasing interest from institutional investors, XRP seems poised for a significant price hike. If these ETFs are approved and institutional purchasing rises, XRP's value could reach $20 or more.
