Claim $500XRP Price Set for Parabolic Rally as XRPR ETF Pulls $30M in 3 Days
Highlights
- XRP price has formed a giant bullish flag pattern on the daily chart.
- The coin will benefit from the ongoing XRPR ETF inflows.
- The recently launched fund has gained over $30 million assets in 3 days.
The ongoing XRP price crash could be about to end after it formed numerous bullish chart patterns. Ripple will also bounce back as the recently launched XRPR ETF inflows soar, a sign of robust institutional demand.
XRP Price Boosted by the XRPR Demand
The recently-launched REX-Osprey XRPR ETF is doing well and is signaling that there is robust demand from American institutional investors.
According to its website, the XRPR ETF now holds over $30 million in assets. It has gained these assets in the last three trading days, which is a notable achievement.
The fund has an expense ratio of 0.75%, meaning that a $100,000 investment will cost about $750 a year in fees. In contrast, BlackRock’s IBIT ETF has a ratio of 0.25%, with a similar investment costing $250 a year.
The ongoing XRP ETF growth is a sign that American institutional investors are ready for the main Act 33 funds. Analysts believe that the agency will approve the seven funds filed by firms like Grayscale and Fidelity.
Based on the XRPR success, there is a possibility that these funds will have between $8 billion and $10 billion in inflows in the first 12 months. Such a move would be highly bullish for XRP as these funds will be new money.
Most notably, the funds approval comes as Donald Trump is pushing for the ability for retirement accounts like 401k to invest in the crypto market. While most of these funds will go to Bitcoin, some of the residual cash will go to top coins like XRP and Ethereum.
The approval will also happen as the Federal Reserve cuts interest rates. Historically, risky assets like crypto and stocks thrive in a low-interest-rate environment.
Ripple Price Technical Analysis Points to a Strong Rally
The daily chart below shows that the XRP price has crashed since July as demand waned and profit-taking ensued. This pullback brought it to the strong, pivot, and reversal point of the Murrey Math Lines.
The coin has formed a downsloping channel. Its upper and lower sides have connected the highest and lowest levels since July this year. This channel is part of the formation of the bullish flag pattern.
XRP price has remained above the 200-day moving average. It has also formed a cup-and-handle pattern, which normally leads to more upside.
Therefore, the coin will likely continue rising as bulls target the extreme overshoot level at $4.30. A drop below the support at $2.50 will cancel the bullish forecast.
Frequently Asked Questions (FAQs)
1. What is the most likely XRP price forecast?
2. What is the impact of the ongoing XRPR ETF inflows?
3. How high can the XRP price get this cycle?
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