XRP is under the spotlight at the moment and and there is a good chance that its price can reach $ 20 soon. After years of legal battles with the SEC, which challenged XRP status as security, the trial is finally over. This new freedom has aroused the interest of retail and institutional sales investors and with 17 ETF deposits already underway for XRP. According to an analyst, this combination of factors opens the way to the price of XRP to increase in the near future.
XRP dominates ETF deposits
XRP is currently the most popular cryptocurrency with regard to ETF deposits (Stock Exchange Fund). In the United States, there are 17 distinct ETF XRP applications. This is huge because these ETFs can put many institutional investors on the market. ETF help regular investors exposure to the crypto without having to buy parts directly, so it’s a big problem.
Companies like Grayscale, Fidelity and Vaneck have already deposited XRP ETF, which could considerably increase the price once approved. If XRP is starting to draw as much attention as Bitcoin and Ethereum, its value could increase considerably.
Large institutions buy XRP
XRP is not only for regular cryptography traders – large institutions also buy XRP. Ripple works with 12 central banks worldwide to create their own digital currencies. Many of these banks use XRP for their projects, and the demand for money increases.
In addition, XRP is bought by large banks and financial institutions whenever new parts are unlocked from the entire. These purchases occur regularly, pushing the price slowly but regularly.
Ripple’s world partnerships
Ripple’s partnerships with large companies and governments are another reason why the price of XRP could jump. Ripple speaks to large banks in the United States, and some of them buy from XRP in bulk. This adds more pressure on the price to increase. While central banks around the world build their own digital currencies on the XRP blockchain, demand will only grow.
Institutional push
Cryptographic space see an influx of institutional silver. Companies like Blackrock now seek to invest in XRP, and when the major players enter the market, they bring massive money amounts. This influx of money will increase the higher XRP price as demand increases.
Conclusion: $ 20 XRP could arrive soon
With 17 ETF deposits and buzzing institutional currency, XRP is on the right track for massive growth. When these ETFs are approved and more institutions are starting to buy, the price of XRP could easily reach $ 20 – or even more.
