XRP is experiencing a price surge amid speculations about BlackRock potentially filing for an ETF, while analysts predict a possible rise for the token.
Speculations about BlackRock ETF Filing
The price of XRP, currently above $2.50, has increased over 6.1% today, fueled by rising speculation that BlackRock, the world's largest asset manager, may soon file for an XRP-based ETF. While no official applications have been made yet, sources suggest submissions for both XRP and Solana (SOL) are imminent, especially as the long-standing legal dispute between Ripple and the U.S. Securities and Exchange Commission approaches resolution.
Market and Investment Interest
Market signals indicate a growing interest in XRP. For instance, the ProShares Ultra XRP ETF (UXRP) was recently added to the Depository Trust & Clearing Corporation's product list, signaling support for XRP-focused ETFs. Additionally, Donald Trump's Truth Social has filed for a "Crypto Blue Chip ETF" featuring XRP as a key holding. Analysts from JPMorgan further assert that spot XRP ETFs might be approved later this year, enhancing institutional interest.
Technical Analysis and Forecasts
Technical analysts believe that if XRP breaks above the resistance at $2.56, the path to $3 will become clearer. Crypto analyst Javon Marks predicts that if bullish momentum is sustained, XRP could reach $9.631, a staggering 251% increase from current levels. However, caution is warranted; a drop below $2.50 could send XRP back to support levels at $2.40 or $2.30.
XRP continues to gain traction amid growing rumors of BlackRock's ETF filing and analysts' claims of potential substantial growth. Institutional interest and the backing of several new products could create a foundation for the token's future success.
