$XRP 🔥💥Ripple: Could XRP be on track for a $1 surge amid ETF hype?

With all eyes on a potential breakout in crypto,#Ripple(#XRP ) could be preparing for a $1 surge amid ongoing ETF hype. Not only did Ethereum receive approval for a spot#ETFthis week, but $XRP is rumored to be a potential candidate for a similar investment product.

Can Ripple target $1 as ETF hype intensifies?

Throughout 2024, cryptocurrency-based ETFs have become a major focus of discussion in the financial industry. The existence of a spot Bitcoin ETF and the approval of an iteration of Ethereum have generated huge discussion. This hype has increased overall exposure for the industry and has prompted many to look for the next possible asset.

These two aspects could be particularly beneficial for an asset, as Ripple could be preparing for a $1 surge amid ongoing ETF hype. Not only is XRP a popular ETF candidate, but when a spot ETF for Ethereum eventually goes live, it could benefit as the market surges.

According to one analyst, $1 is certainly a target price for the cryptocurrency. Specifically, EGRAG Crypto on X (formerly Twitter) shared his expectations that XRP could surge to $1.50. In fact, the analyst predicts a “white triangle” breakout will propel the asset to the predicted heights.

This is certainly an optimistic approach, but there is some truth to the view. Currently, the asset’s lack of movement since the beginning of the year is a cause for concern. The biggest overhang at the moment is regarding the company’s ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC).

A conclusion has long been expected in the second half of 2024. If that conclusion does come to pass, it could provide the asset with the necessary momentum to push past the $0.55 mark. Until then, however, it’s hard to justify outright predictions that XRP will surge to $1.50.