Crypto analyst Jungle revealed what to expect if the SEC approves. XRP ETF. He predicts that this fund can have a similar effect on XRP compared to the method of Bitcoin ETF in BTC.
What happens if the XRP ETF is approved?
at X postJungle said that if the SPOT XRP ETF is approved, Wall Street investors will not only be exposed to XRP, but will also change fundamentally. Altcoin’s market behavior. Analysts suggested what happened to Bitcoin after BLACKROCK’s Bitcoin ETF Ibit was released.
He maintained volatility in Bitcoin, but the management (AUM) Blackrock’s Bitcoin ETF Keep climbing during dip. Jungle says that this means that the agency buys deep instead of panic sales and continues to buy a construction position. Analysts pointed out that this accumulation from institutional investors has taken more stable prices of BTC compared to the previous cycle of up to 50%collapse.
The Jungle pointed out that the continuous inflow of capital has made structural bidding according to Bitcoin. The analyst said that institutional demand has reorganized BTC as a more mature and stable asset class. Now he expects a similar tail wind XRP price Using the XRP ETF, all dip met with institutional inflow. The analyst explained this inflow with sticky capital.
As a result, JUNGLE declared that a new layer for XRP prices will be created and will be shifted from over -advertising -based cycle to sustainable Wall Street support growth. He also said that the launch began. Bitcoin ETF Not only did they create only demand, but also changed the market.
Analysts said that XRP ETF said, “We can do the same by rewriting the playbook for the future of XRP.
The probability of approval reached 93%.
Polymarket data The chance of SEC, which approved the XRP ETF this year, increased more than 6% last week to 93%. This confirms that the committee may approve this fund by the final deadline next month. The first deadline of this final deadline appears. Gray scale XRP ETF On October 18, if the institution must approve or approve the proposed rules for the listing and trading stocks of this fund.
Meanwhile, Bloomberg analyst Eric Balchunas and James Seypart said that this fund is already 95%approved as the final deadline. that XRP litigation It also contributed to the optimism that the SEC would approve this XRP ETF until the deadline.
At the time of writing, XRP prices are trading at $ 2.96, up more than 2% over the last 24 hours. data In CoinmarketCap.
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