The post Four Reasons Why XRP Price May Hit $20 Soon appeared first on Coinpedia Fintech News
XRP is in the spotlight right now and and there’s a strong chance its price could reach $20 soon. After years of legal battles with the SEC, which challenged XRP’s status as a security, the lawsuit is finally over. This newfound freedom has attracted interest from both retail and institutional investors, and with 17 ETF filings already in progress for XRP. According to an analyst, this combination of factors sets the stage for XRP’s price to surge in the near future.
XRP Dominates ETF Filings
XRP is currently the most popular cryptocurrency when it comes to ETF (Exchange-Traded Fund) filings. In the United States, there are 17 separate XRP ETF applications. That’s huge because these ETFs can bring a lot of institutional investors into the market. ETFs help regular investors get exposure to crypto without having to buy coins directly, so it’s a big deal.
Companies like Grayscale, Fidelity, and VanEck have already filed for XRP ETFs, which could boost the price significantly once approved. If XRP starts getting as much attention as Bitcoin and Ethereum, its value could rise dramatically.
Big Institutions Are Buying XRP
XRP isn’t just for regular crypto traders – big institutions are also buying up XRP. Ripple is working with 12 central banks globally to create their own digital currencies. Many of these banks are using XRP for their projects, and the demand for the coin is growing.
Additionally, XRP is being bought up by major banks and financial institutions whenever new coins are unlocked from escrow. These buys are happening consistently, pushing the price up slowly but steadily.
Ripple’s Global Partnerships
Ripple’s partnerships with major companies and governments are another reason XRP’s price could jump. Ripple is talking to large banks in the U.S., and some of them are buying XRP in bulk. This adds more pressure on the price to rise. As central banks around the world build their own digital currencies on the XRP blockchain, the demand will only continue to grow.
The Institutional Push
The crypto space is seeing an influx of institutional money. Companies like BlackRock are now looking to invest in XRP, and when big players enter the market, they bring massive amounts of cash. This influx of money will push the price of XRP higher as demand increases.
Conclusion: $20 XRP Could Happen Soon
With 17 ETF filings and institutional money pouring in, XRP is on track for massive growth. When these ETFs get approved and more institutions start buying, the price of XRP could easily hit $20 – or even higher.