The US government is seen to approve a wave of new ETFs as it reopens.
Wall Street players are jumping into XRP ETF issuance.
The $136 billion digital coin is well-positioned to lead the next wave of the bull run alongside a tsunami of imminent ETF approvals.
That’s according to Ryan Lee, chief analyst at crypto exchange Bitget, who said XRP’s price is well-positioned to surge about 21% to as high as $2.75 thanks to cross-border liquidity flows and momentum around stablecoin initiatives.
Punters on Polymarket gives XRP’s price a 36% chance of hitting $2.60 in November.
XRP is currently trading at $2.27, nearly 40% below its $3.65 all-time high from July, as markets continue to reel from the $1 trillion selloff.
Lee’s bullish call comes as the fourth largest cryptocurrency debuts in November 13 on Wall Street.
The first spot XRP ETF launched by Canary Capital attracted $250 million in its first day of trading and saw nearly $60 million in volume.
That same day, investors pulled $866 million from US spot Bitcoin ETFs, while Ethereum products also lost $260 million, a striking divergence that signals institutional investors are exploring fresh bets beyond the top two crypto tokens.
Steven McClurg, CEO of Canary Capital, echoed the optimism for XRP earlier this year, predicting that XRP ETFs could attract $5 billion in inflows in their first few months of trading.
A dozen US spot XRP funds now sit in Depository Trust and Clearing Company’s pipeline, including new listings from Grayscale, Franklin Templeton, 21Shares, Bitwise, ProShares, and CoinShares, as of November 14.
Though the DTCC describes the products as “pre-launch” and “not yet” active, listing on this website has been interpreted as a sign of imminent launch.
Franklin Templeton, the asset management giant with $1.5 trillion in assets under management, is by far the biggest institutional name on the list.
Its XRP-linked product, shown on DTCC’s website as XRPZ, will join the firm’s existing digital asset menu which includes a Bitcoin, Ethereum, and crypto index ETF.
ProShares, an ETF platform with over $100 billion in assets under management, is also set to launch its UXRP product.
The company is known in crypto for launching the first US Bitcoin futures ETF, the ProShares Bitcoin Strategy ETF, in October 2021.
Grayscale gained prominence as the issuer of the Grayscale Bitcoin Trust, which was the first publicly traded Bitcoin investment product in the US.
It allowed institutional investors to gain Bitcoin exposure without holding the asset directly.
The firm later led the charge in converting GBTC into a spot Bitcoin ETF, setting legal precedent with its court win against the SEC in 2023.
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