XRP price has recorded significant gains today, soaring more than 6% amid a broader crypto market recovery. The sudden spike comes amid growing speculations that the leading asset manager BlackRock could soon file for an ETF for Ripple’s native asset and Solana. Besides, renowned experts predicted a potential rally for the asset, potentially sending it to a new ATH.
BlackRock’s ETF Filing Speculations Gain Traction
The XRP community is abuzz with speculation following a recent statement from ETF Store President Nate Geraci. In a recent X post, Geraci suggested that BlackRock may file for both Solana and XRP ETFs in the near future.
He emphasized that the giant asset manager, which currently leads in Bitcoin and Ethereum ETF assets, is unlikely to let competitors take the lead on two of the top five non-stablecoin crypto assets. Geraci stated:
“BlackRock will file for both Solana and XRP ETFs. Solana could be any day. Think xrp once the SEC lawsuit concluded. I simply don’t see them allowing competitors to come in & launch ETFs on 2 of the top 5 non-stablecoin crypto assets w/out any sort of fight.”
Meanwhile, his comments have reignited investor confidence in XRP’s potential, especially as BlackRock’s involvement could drive major institutional interest.
XRP Price Targets $5 Amid Bullish Projections
Following Geraci’s statement, market analysts have turned bullish on XRP. Notably, a recent report hints at a potential rally for Ripple’s native asset to $15 in the coming days. Besides, another expert has shared a bullish forecast, hinting towards a new ATH ahead.
Well-known crypto expert, Rose Premium Channels, shared an optimistic price prediction, suggesting that XRP could soon hit $5. According to the analysis, XRP’s key support levels lie at $2.1 and $2.2, while its next targets stand at $3, $4.2, and ultimately $5.
With the potential ETF filing and the broader market recovery, traders anticipate a strong uptrend for XRP. Some analysts even project a double-digit long-term target, should the ETF materialize and market conditions remain favorable.
XRP Price & Performance
XRP price has jumped nearly 6% today and exchanged hands at $2.46 while touching a 24-hour high of $2.47. However, its one-day trading volume fell 20% to $4.6 billion. Besides, CoinGlass data showed that XRP Futures Open Interest soared more than 6% to $3.38 billion, reflecting the bullish market sentiment.
Besides, a recent report also showed why Ripple’s coin is poised to continue its rally ahead. However, with soaring anticipation over the potential XRP ETF launch in the US, the market sentiment remains high with many expecting the crypto to touch a new high ahead.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: