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ZyCrypto 2025-04-22 22:21:59

Ripple’s XRP ETF Approval Poised to Catapult XRP Bulls to Never-Before-Seen Levels

Ripple’s XRP ETF Approval Poised to Catapult XRP Bulls to Never-Before-Seen Levels

As prominent market figures have observed, the rise in institutional demand for Ripple’s XRP, the 4th most valuable cryptocurrency by market cap, could catalyze a much-needed XRP price rally. Institutional players appear to have a fixed gaze on the altcoin, with more than 10 asset managers filing for an XRP-based ETF. Notably, Bitwise Asset Management, a firm with over $5 billion in assets under management (AUM), was the first to file for an XRP ETF in October 2024. Other firms joining the race not long after include leading investment firms such as Canary Capital, MEMX, 21Shares, WisdomTree, Coinshares, Grayscale, Teucrium, Franklin Templeton, ProShares, among others. Two crypto proponents have interestingly asserted that an XRP ETF approval could spearhead a price rally for the asset. Institutional entry into the XRP market could, as market observers noted, function as a “giant vacuum cleaner,” quickly accumulating the asset’s liquidity . Back in January, experts from J.P. Morgan reportedly predicted an $8 billion inflow if XRP ETFs were approved in the long term. The bullish predictions and positive sentiments appear to have been validated by the SEC’s decision not to appeal the 2023 court ruling by U.S. District Judge Analisa Torres. XRP primed for a major move as key signal hints at potential rally The week looks promising for XRP, as the altcoin’s price action suggests a potentially significant move for the asset. XRP’s Bollinger bandwidth, a key market indicator, has dropped to its lowest level for the first time since October 2024. Although a tight band could emerge after a market selloff, it has also historically kick-started a price rally for assets like Bitcoin and XRP. At the time of this report, XRP, up by 7.08% over the last 24 hours, is valued at $2.21 per coin.

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