The probability of approval of the XRP ETF has the potential to increase positive expectations in the crypto currency market. While this development raises the possibility of an increase in the price of XRP, corporate investors are expected to be included in the market. Some analyzes argue that ETF approval may lead to XRP’s leap at certain levels of support.
ETF approval and effects
While corporate funds are expected to flow into the XRP ecosystem, it is envisaged that ETF applications to be approved will have positive effects on the market. Analyst Dark Defender said that if the support level is preserved, the price of XRP can reach $ 8.
Dark Defender: If XRP maintains its critical support level, it may rise to $ 8.
Such estimates reflect the hopeful expectations of investors about market movements.
ETF applications submitted by six asset managers are evaluated during the approval process of regulatory institutions. Within the scope of the new regulations of the US Securities and Stock Exchange Commission, it is observed that the market has taken steps to expand the regulatory area. Analyst Mikybull Crypto said it was difficult for XRP to show a downward movement at the current levels.
Mikybull Crypto: The downward movement should not be expected when XRP is at existing levels.
General market dynamics are thought to have an effect on XRP.
Other positive developments
In addition to the predicted increase in the XRP price, Ripple’s active purchase activities and possible contributions to management draw attention. Analyst Ekrag Crypto said that XRP may rise up to 27 dollars by reflecting the 2017 pattern.
ECRAG CRYPTO: XRP can reach $ 27 by repeating the 2017 model.
In addition, developments such as Ripple CEO Brad Garlinghouse in the US Crypto Advisory Council are considered positive signals for crypto.
In the evaluations, it is stated that there may be significant mobility in the price of XRP. The participation of corporate investors to the market and the impact of regulatory developments are among the elements that can determine the direction of the price. Ripple’s intensive purchases and the possibility of being involved in the administration are among the positive signals. These developments can be closely monitored by investors.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
