Top Firm Predicts No Surge For XRP Despite Anticipated October Spot ETF Approval

As the altcoin market experiences a resurgence, XRP has struggled to gain momentum, consolidating between $2.70 and $3 for the past two ￰0￱ the excitement surrounding potential exchange-traded funds (ETFs) that could invest in the altcoin if approved, The Motley Fool has cautioned that the current market correction may persist longer than many ￰1￱ Of Prolonged Downtrend In a recent analysis, the firm attributed some of XRP’s lackluster performance to a general malaise in the cryptocurrency market, where traders are waiting for Bitcoin (BTC), the market’s leading cryptocurrency, to lead a new price rally. However, two critical factors suggest that XRP may face a more prolonged downtrend than previously ￰2￱ anticipated launch of new spot crypto ETFs has been a focal point of discussion since the beginning of the ￰3￱ Reading: Ethereum (ETH) On The Brink Of A Major Supply Crisis: What It Means For Investors Several asset managers have submitted applications to the Securities and Exchange Commission (SEC) to create spot XRP ETFs, with Bloomberg estimating a 95% approval chance and online prediction markets estimating 94%.

While approval seems likely, the real question revolves around the demand for these ETFs. XRP, currently the world’s third-largest cryptocurrency, undoubtedly has some level of institutional interest, yet the actual inflows tell a different ￰4￱ indicates that only $1.25 billion flowed into XRP from institutional investors during the first eight months of ￰5￱ Chase has projected that the upcoming ETFs could attract between $4 billion and $8 billion into XRP. However, the firm asserts that even the lower end of this estimate might not significantly influence XRP’s price action over the long-term, given its current market capitalization of $180 ￰6￱ For XRP May Not Occur Until 2026 While there is considerable optimism among analysts regarding XRP’s future, with some price predictions suggesting it could reach new record prices of up to $4, $5, or even $10, the firms noted that these projections do not account for the risks of short-term price ￰7￱ to crypto betting platform, Polymarket, there is a 32% chance of XRP dropping to $2.50 this year, a 30% chance it could fall to $2.40, and a 27% chance of plummeting to $2.

Related Reading: BNB Price Surges to Fresh ATH – Can Bulls Push Toward $1K? These statistics indicate that XRP could continue to drift lower over the next few months before any meaningful recovery takes place, potentially not occurring until 2026. Ultimately, The Motley Fool analysis suggests that any upward movement for XRP is likely to depend on Bitcoin’s ￰8￱ Bitcoin fails to reclaim its previous peak by the end of the year, it will be challenging for XRP to initiate its own ￰9￱ of this writing, the XRP price has recovered the $3.0675 mark, representing a 1.5% surge within the last 24 ￰10￱ pales in comparison to Ethereum’s (ETH) 5% gains within the same time ￰11￱ image from DALL-E, chart from ￰12￱