XRP’s future is looking bright as anticipation for approval grows, with crypto analysts predicting a dramatic surge in price. According to a recent podcast, the launch of an XRP ETF could be the catalyst that drives the altcoin’s price higher.
The analyst likens ETFs to “giant vacuum cleaners” sucking up liquidity from the asset pool, effectively removing it from circulation and creating upward pressure on the cryptocurrency’s price. With nine companies filing for an XRP ETF in the US, including rumored mover BlackRock, this could speed up demand shock and adoption rate.
As investor interest increases, sentiment shifts, and businesses begin to use XRP for payments, the demand for altcoin is expected to grow. In anticipation of an ETF-driven scarcity, businesses may buy up large amounts of XRP in advance, leading to a “front-loading effect.” This could create a perfect storm for a price surge.
The analyst forecasts XRP’s price to hit $9.08 soon, citing the formation of a Bull Pennant pattern on TradingView charts. Despite the tightening range, the altcoin is moving as planned, with price action respecting key support levels and building pressure below resistance.
Source: https://bitcoinist.com/xrp-etfs-and-a-price-surge