Analyst Forecasts XRP Could Reach $10 Within a Year
Advertisement     Despite briefly reaching $2.17, XRP failed to maintain momentum, signaling hidden sell pressure beneath the surface. Still, one analyst has suggested that XRP is positioned to enter a…
XRP briefly reached $2.17 but failed to hold that level, indicating persistent sell pressure. Despite the pullback, analyst Chad Steingraber believes XRP could enter a rapid uptrend and climb “from $2 to $10” in under a year.
Steingraber’s thesis rests on strong early demand for U.S.-listed spot XRP exchange-traded funds (ETFs). The launch of those funds is notable because XRP and Ripple previously fought a high-profile regulatory battle with the U.S. Securities and Exchange Commission.
According to SoSoValue, the new XRP ETFs have drawn about $944.13 million in investor capital since debuting on Nov. 13. That inflow represents roughly 0.74% of XRP’s circulating supply. Steingraber also highlights XRP’s weight in Bitwise’s newly uplisted crypto index fund. The Bitwise 10 Crypto Index Fund (BITW), a $1.25 billion vehicle that tracks the 10 largest digital assets and recently received SEC approval to trade on NYSE Arca, lists XRP at 5.16% of its portfolio.
Estimating Bitwise’s XRP holdings at about 30,718,290 tokens, Steingraber calculates total XRP added to assets under management since the ETFs launched at roughly 506,067,267 XRP — accumulation that he says occurred in less than a month.
At the time of reporting, XRP was trading near $2.09, down about 1.1% for the day, according to CoinGecko. Steingraber points to precedent in Bitcoin, which roughly doubled within two years after U.S. spot bitcoin ETFs were approved, and suggests a similar ETF-driven move could lift XRP.
If that momentum continues, reaching $10 next year would imply roughly a 400% increase from current levels. Still, the recent inability to sustain gains near $2.17 underscores that selling pressure and market volatility could limit or delay such a rally.