XRP price has once again rallied past the $0.62 mark today, after witnessing a decline to below the $0.59 level recently. Notably, the surge in the price came in as Bitwise filed for a Spot XRP ETF, which has sparked widespread discussions in the market. Now, many in the crypto market are expecting the crypto to witness a surge to $3 in the coming days, with discussions soaring over a potential Ripple’s ETF launch in the US market.
Bitwise Files For XRP ETF Sparking Optimism
The leading asset management firm Bitwise has taken a significant step towards launching an XRP ETF by filing a registration for a Delaware statutory trust on September 30. The move, filed with Delaware’s Division of Corporations, has stirred excitement in the crypto community, which has been eagerly awaiting the possibility of the ETF in the US market.
Notably, the filing comes at a time when anticipation for altcoin ETFs is high, following the successful launch of Bitcoin and Ether ETFs in the US. This development has raised hopes that other top altcoins could soon see their own ETFs launched.
In addition, the recent debut of Grayscales XRP Trust has already fueled discussions within the market, particularly in light of the ongoing legal battle between Ripple and the US SEC. With Bitwise’s filing, many are now speculating whether the SEC will approve the ETF or focus on a potential last-minute appeal in its Ripple case.
The timing of this filing only adds to the intrigue surrounding the future of Ripple’s native crypto in the US.
XRP Price Eyes $3 Milestone
The recent filing by Bitwise has fueled speculations over a potential rally in Ripple’s native crypto’s price. During writing, the XRP price soared nearly 5% and crossed the brief $0.62 mark. Notably, the crypto has touched a high of $0.6336 following the ETF filing update, reflecting the growing confidence of the investors.
In addition, the trading volume of the crypto soared 36% to $2.74 billion at the same time, indicating a growing market confidence. Meanwhile, a top crypto expert anticipates the XRP to soar past the $3 mark by Christmas, which has also sparked speculations in the market.
Having said that, the market is now anticipating the crypto to rally further in the coming days. Besides, with the deadline approaching for a potential appeal by the US SEC, the discussions are further rising about whether the crypto could maintain a bullish run in the fourth quarter.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: