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If XRP ETF is approved, the price of Ripple may soar

Imagine what will happen to the price of Ripple if the inflow of funds to XRP ETF can reach the scale of $47 billion of Bitcoin? Let's talk about this.

First of all, it is predicted that once the XRP ETF is approved, the price of Ripple is likely to break through the $1 mark. Bitwise Asset Management has submitted an application for an XRP exchange-traded fund (ETF) to Delaware. Moreover, this XRP ETF will not be under the pressure of capital outflow like the Grayscale Fund.

Bitwise's application has made the price outlook of XRP popular again. Everyone is curious, if this ETF is really approved, how high can the price of Ripple rise? If it really attracts capital inflows similar to the $47 billion of Bitcoin, the impact will be huge.

Let's first look at the reaction after the approval of Bitcoin and Ethereum ETFs. On the day when Bitcoin ETF was approved, the market was so lively that funds flowed in, exceeding $1.6 billion in a few minutes. As a result, the price of BTC rose by 39% in the next few months and is now around $61,500.

Although Ethereum ETF had some inflows at the beginning after it was approved, it later outflowed a lot. The price has never exceeded the high of $3,521. Now it has fallen by 30% and is trading at around $2,478. It may be that the global market is not stable, and investors are more willing to use Bitcoin to hedge inflation.

What will happen to the price of Ripple after the approval of XRP ETF? We can refer to the performance of Bitcoin and Ethereum. Now XRP has a market value of $34 billion. If there is really $47 billion in funds flowing in, the price may rise by 150% to 300%, that is, the price of XRP may rise to $1.5 or even $2.49.

Why is XRP ETF different from BTC or ETH ETF? Because it does not have the pressure of Grayscale funds outflow. XRP's market value is only one-ninth of ETH and one-thirty-fifth of BTC, so even if only a few billion dollars of capital inflows, it will have a great impact on the price.

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