JPMorgan projects $3–$8 billion inflows for potential XRP ETF

JPMorgan, a leading global financial institution, has estimated that a spot-based XRP ETF may see flows of $3 billion and $8 billion. The financial giant based this approximation on the performance of Bitcoin and Ethereum ETFs that started in the market last year.

Spot ETFs have gained much popularity in the crypto market and represent about 8% of Bitcoin’s total market capitalization, which is now $1.81 trillion. Nonetheless, Ethereum ETFs have comparatively lower penetration at 3%, but the trend is still likely to experience an increase in future inflows. 

According to JPMorgan, an XRP ETF is expected to have a similar market impact as Bitcoin ETFs. Similar levels of success are also expected from Solana-based ETFs. This will also stress the growing interest in diversified cryptocurrency ETFs among institutional and retail investors.

Industry players compete for approval

Increasing adoption and use of XRP in payment solutions add more weight to the crypto’s suitability for an ETF. Currently, there are already some applications for the XRP spot ETF being filed by some industry participants including Bitwise and WisdomTree. The competition has been further intensified especially after the emergence of positive results in Bitcoin and Ethereum ETFs.

As previously reported by Cryptopolitan, Ripple President Monica Long stated an XRP ETF may be launched right behind Bitcoin and Ethereum products. Her remarks are in line with the market sentiment that the prospect of an XRP spot ETF being approved has risen considerably.

Nate Geraci, a well-known expert in the ETF market, also noted that an XRP spot ETF could be approved within the year. This would be a great boost to Ripple and would also provide a lot of credence to the XRP token as a key digital currency in the market.

While XRP has been garnering much attention, BlackRock, the world’s largest asset manager, has ruled out plans to apply for more altcoin ETFs at this time. The company continues to concentrate on its Bitcoin ETF, which has made it a leading player in the cryptocurrency investment market.

Ripple’s executives have also been making headlines. Ripple CEO Brad Garlinghouse, the Chief Legal Officer Stuart Alderoty, and the U.S president-elect, Donald Trump, held a meeting that set speculations on possible friendly policies towards XRP. Even without any details about the meeting, the crypto community has considered this a positive sign.

The further expansion of the Ripple ecosystem has also added more wind to XRP’s sails. The RLUSD, a stablecoin issued on the XRP Ledger, is used to enhance the options of settlements on the XRP Ledger. The adoption of the XRP Ledger is expected to grow due to RLUSD improving cross-border transaction efficiency.

XRP price update

At the time of writing, XRP is trading at $2.47, a decrease of 3.28% in 24 hours. It rose to $2.56 in the same period before dropping to $2.33. However, the upward trend in XRP has been hindered by some resistance at $2.60. Popular technical analyst Peter Brandt posted a chart on his X  account referring to XRP as the “Leader of the pack.” 

Brandt recently mentioned a possible “half mast flag” pattern on the hourly chart of XRP, which is a bullish continuation pattern. However, he pointed out that such patterns should not persist beyond six weeks.

Another prominent analyst, Javon Marks, has indicated that XRP has the potential to rise to the next level and possibly reach $16.50, which is more than 7200% growth. Marks states that this trajectory correlates with the historical price cycles and gives a chance for the full bull trend in which the price of XRP may fluctuate between $111 and $168.

Next Phase for $XRP can lead to $16.50+ and by history, another full run similar to its previous cycle can lead to an over +7,200% move from here to $111-168!

Prices already look to be on the way, demonstrating full run potential ⚡️… pic.twitter.com/jsqtrRJzbP

— JAVON⚡️MARKS (@JavonTM1) December 28, 2024

Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap