The former host of the YouTube channel Bitboy Crypto named a series of events that could trigger the growth of the XRP cryptocurrency to $25.
Ben Armstrong, in the Crypto Crossfire podcast, suggested that a powerful catalyst for the growth of XRP could be the launch of exchange-traded funds tied to this crypto asset. An XRP ETF will allow investors to gain legally controlled access to the Ripple cryptocurrency, and this will greatly increase its demand.
However, according to Armstrong, one should not place too much hope on immediate results. The success of an XRP ETF will depend on several factors, including the regulatory environment, investor sentiment, and overall crypto market volatility. Even if an exchange-traded fund on XRP is indeed approved by the authorities of any country, the impact of the new investment product on the coin’s price may not be that great. Apart from the fact that, as far as we know, no one is even trying to launch such ETFs.
Another factor that could affect the growth of XRP is Ripple’s entry into the stock exchange, the blogger is sure. Information that Ripple is planning an IPO appeared back in 2021. Armstrong argued with a panelist who dared to suggest that even if Ripple were listed on an exchange, it would have little effect on the XRP price.
Recently, it was widely rumored that the investment company BlackRock had submitted an application to the US regulator to launch an ETF linked to XRP. As a result, the cryptocurrency rate jumped to $0.75. BlackRock later denied the rumors, and the coin corrected to $0.61.