XRP investors are enthusiastically waiting for ETF approval. However, some analysts say there is an uneasiness in the market due to the delay of the expected rise. So, can Ripple ETF really start a big rally, or will the expectations be wasted?
How can XRP ETF approval affect the price?
XRP ETF approval can allow corporate funds to flow into the Ripple ecosystem. This may lead to an increase in demand and the increase in the price. In the past, Bitcoin ETFs also brought the price of BTC to new summits.
Crypto analyst Dark Defender predicts that XRP can rise to $ 8 if it holds at $ 3. However, Ripple ETF approval is thought to accelerate this rise. If the market features expectations, Ripple can reach the highest level of all time.
Can Ripple go to $ 27?
Analyst Ekrag Crypto says that XRP repeats its movements in the 2017 bull market. Based on this cycle, it predicts that the XRP can rise up to 27 dollars. If ETF approval coincides with market expectations, this estimate can be realized.
Currently, the Altcoin market is in a general decline trend. However, XRP ETF applications are increasing. Large investment companies such as Bitwise, Canary Capital, Grayscale and 21shares have applied to the SEC for XRP ETF. If the SEC confirms these applications, there may be great mobility for XRP.
Why are Ripple investors hopeful?
The XRP price did not realize the expected rise in recent weeks. However, Analyst Mikybull Crypto says that the bear market can end at these levels. According to graphic analysis, Ripple can reach $ 7.
In addition, the new management of the SEC is trying to make crypto arrangements clearer. The Commission established a special team to focus on crypto arrangements. In addition, the change of task of SEC’s chief crypto prosecutor Jorge Tenreiro shows that regulatory pressure may be reduced.
Other positive factors for XRP
In addition to XRP ETF applications, Ripple whales make great purchases. According to the latest data, investors purchased 520 million Ripple during the decline. This may be a sign that the market is preparing to recover.
In addition, Ripple CEO Brad Garlinghouse was reportedly nominated for an important seat at the US Crypto Advisory Council. If this happens, positive arrangements for Ripple can accelerate. As a result, Ripple ETF approval can trigger a large rise. However, the general trend and investor psychology of the market will continue to be the most important factor to determine price movements.
