NEW YORK / LONDON (IT BOLTWISE) – The cryptocurrency XRP is in the focus of investors after suffering significant losses in value in recent months. Despite the delay in SEC approval of spot ETFs, there are several factors that could influence the price of XRP in the coming months.
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The cryptocurrency XRP has had a rollercoaster ride in the last few months. After reaching a 52-week high of $3.65 in July, the price fell 34% to currently $2.40. This development has unsettled many investors, especially since XRP has underperformed both Bitcoin and Ethereum over the past 90 days.
A key factor that could influence the price of XRP in the near future is the expected launch of spot ETFs. Several investment firms such as Grayscale, Bitwise and WisdomTree have filed applications with the SEC, but approval was delayed due to a government shutdown. These ETFs could drive a significant inflow of capital into XRP, similar to what happened with Bitcoin when its spot ETFs were launched.
Another aspect that could potentially strengthen XRP is the increasing activity of digital asset treasury companies focused on purchasing and hoarding XRP. Companies like VivoPower International and Evernorth have raised millions of dollars to acquire XRP for their balance sheets. This constant demand could stabilize and increase the price of XRP in the long term.
Additionally, there is speculation about a possible integration of the XRP blockchain payment network with the SWIFT system for international bank transfers. Should this become a reality, XRP could gain a significant share of global SWIFT transaction volume, which would represent another source of demand. However, it remains to be seen whether XRP can assert itself against other blockchain payment networks and stablecoins.
Although some analysts, such as Standard Chartered, have made optimistic price predictions for XRP, investing in this cryptocurrency remains fraught with risks. However, for risk-taking investors, XRP could be an interesting option, especially if spot ETFs are approved and demand from treasury firms continues to increase.
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