Insider’s Forecast: XRP Primed for $5 Surge with Spot ETF Buzz

Former Ripple Director Sean McBride has recently expressed optimism regarding the trajectory of the XRP ecosystem, signalling potential developments that could significantly impact its future. McBride's remarks come at a time when the cryptocurrency community remains abuzz with discussions surrounding the SEC's recent green light for a spot Bitcoin exchange-traded fund (ETF).

Ripple is “Eagerly Anticipating” a Spot XRP ETF

In light of this, McBride has hinted that the XRPArmy may anticipate the introduction of a spot XRP ETF to the U.S. market either later this year or potentially in 2025, adding an additional layer of anticipation to the ecosystem.

Moreover, McBride's insights coincide with Ripple CEO Brad Garlinghouse's comments during a recent Bloomberg interview. Garlinghouse expressed openness to the idea of XRP having its own series of ETFs sanctioned by the SEC, highlighting the growing acceptance and diversification within the crypto investment landscape. 

Drawing parallels between the current emergence of spot BTC ETFs and the early days of traditional equities markets, Garlinghouse emphasized the logical progression towards expanding the ETF offerings to encompass various crypto assets, catering to investor preferences for diversified portfolios.

While Garlinghouse refrained from divulging specific details regarding Ripple's engagement with ETF providers, he underscored the company's overarching support for initiatives benefiting the broader XRP community. This sentiment aligns with Ripple's strategic vision, which has sought alternative jurisdictions boasting clearer regulatory frameworks, particularly in anticipation of its prospective initial public offering (IPO).

A Potential Ripple IPO Abroad

“In the United States, trying to go public with a very hostile regulator that’s approved your S-1, that doesn’t sound like a lot of fun to me. Coinbase obviously had their S-1 approved. And now the SEC is suing them for doing things that were outlined in their S-1,”

Garlinghouse said at the World Economic Forum in Davos, Switzerland, earlier this year.

Garlinghouse previously indicated Ripple's intent to pursue a public listing following the resolution of its legal dispute, underscoring the company's commitment to transparency and compliance with regulatory requirements.

In light of these developments, the convergence of a favorable legal outcome, the potential introduction of a U.S. spot ETF for XRP, and the prospects of a Ripple IPO collectively contribute to a bullish outlook for the XRP price trajectory. Analysts are increasingly optimistic about the likelihood of a significant rally, with projections hinting at a potential surge towards the psychologically significant $5 threshold, underlining the growing momentum and investor confidence within the XRP ecosystem.

Rahul is a skilled freelance writer specializing in cryptocurrency and an expert in cryptocurrencies, blockchain technology, NFTs, and Web3.