Despite briefly touching $2.17, XRP failed to sustain that momentum, suggesting underlying sell pressure. Still, analyst Chad Steingraber argues XRP could enter a rapid growth phase, potentially climbing “from $2 to $10” in under a year.
Steingraber bases his outlook on strong early demand for U.S.-listed spot XRP exchange-traded funds (ETFs). The launch of these funds is notable given XRP and Ripple’s previous regulatory tussle with the U.S. Securities and Exchange Commission.
Data from SoSoValue shows the XRP ETFs have attracted about $944.13 million in investor capital since debuting on Nov. 13, representing roughly 0.74% of XRP’s circulating supply. Steingraber also pointed to XRP’s weighting in Bitwise’s newly uplisted crypto index fund. The Bitwise 10 Crypto Index Fund (BITW), a $1.25 billion vehicle tracking the 10 largest digital assets, received SEC approval to trade on NYSE Arca and lists XRP at 5.16% of its portfolio.
Estimating Bitwise’s holding at about 30,718,290 XRP, Steingraber says total XRP added to assets under management since the ETFs launched is roughly 506,067,267 XRP, and that accumulation has occurred in less than a month.
At the time of reporting, XRP was trading around $2.09, down about 1.1% for the day per CoinGecko. Steingraber notes that Bitcoin doubled within two years of its spot ETF approvals in the U.S., and suggests XRP could see a similar historic ETF-driven move. If that momentum persists, XRP reaching $10 next year would imply roughly 400% appreciation.
