An XRP coin with an explosive fiery background
XRP Bulls Renew Call for $100 as First Spot ETF Gets Green Light
In Brief
- • The SEC has approved the first-ever XRP spot ETF, sparking renewed optimism among investors and fans.
- • XRP supporters predict a potential supply shock and major price rally once the ETF begins trading.
- • Despite the excitement, XRP’s price remains stable around $2.42 ahead of the ETF’s launch.
XRP fans have renewed their expectation of a $100 price for the token. This follows the recent approval of the first XRP spot ETF by the Securities and Exchange Commission (SEC). Uncertainty still looms as crypto market struggles.
One of the XRP fans on X said the token will soon face a supply shock, apparently due to high demand that the supply cannot meet.
He further predicted that November 22 could mark the beginning of the token rising towards the ambitious price target.
ETF Approval Renews Hope of XRP Rally
XRP fans are known for their high expectations concerning its future price. This time, the optimism is renewed due to the approval of the first spot ETF for the token.
The SEC has given the green light for the ETF which is expected to go live on Thursday this week, opening a door of possibilities for XRP.
The fans fondly referred to as the “XRP army” anticipate that such an ETF will garner support from investors around the world, causing the price to surge.
If this plays out, they expect a supply shock and a bullish move to $100 or even the highly ambitious $10,000 target set by diehard fans.
XRP Price Remains Range-Bound
With the news of approving the first XRP spot ETF, XRP fans are excited and expecting big things, but the price has not reflected this expectation.
A look at data on Coinmarketcap.com shows that the token remains stagnant despite the news, with the price still at $2.42 at the time of writing this report.
However, all hope isn’t lost as the ETF is expected to go live tomorrow Thursday 13. Hopefully, things will pick up then and the price could show some bullish trend.
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