XRP Price Surge Imminent: SEC Acknowledges Third XRP ETF

The XRP price is poised to reach $5 as the U.S. Securities and Exchange Commission (SEC) acknowledges Bitwise’s XRP exchange-traded fund (ETF). The crypto community is abuzz with excitement, as the SEC’s recognition of the third XRP ETF signals a potential breakthrough in the XRP price. Despite the current bearish trend, analysts and market experts remain bullish about the price’s potential to surge to new highs.

Analysts predict a significant uptick in the XRP price, with prominent crypto analyst Dark Defender forecasting the next significant Fibonacci level at $5.85. If XRP realizes this prediction, the token will see a staggering 261.80% increase. Another crucial Fibonacci level is at an ambitious $18.23 point, marking an aggressive surge of 361.80%.

In an astounding development, the SEC acknowledged Bitwise’s XRP ETF, marking the third XRP ETF to receive SEC recognition. This move is widely celebrated in the crypto space, as it is seen as a bullish sign for the XRP price. Grayscale and 21Shares’ XRP ETFs have also received SEC acknowledgments earlier.

XRP is experiencing heightened institutional demand, with several major players making moves to capitalize on its potential. Grayscale has filed to convert its XRP Trust into an ETF, while CBOE and Nasdaq have submitted 19b-4 filings for XRP ETF listings. Stock exchange MEMX has also submitted a filing to the SEC to list an XRP ETF, designating it as a commodity-based trust. Despite these positive moves, the SEC’s approval of the XRP ETFs remains uncertain.

As of press time, XRP is trading at $2.50, with a daily decline of 5.18%. However, over the past week, the XRP price has experienced a 4.5% surge despite a 21% monthly dip. With a 4.2% increase in its 24-hour trading volume, currently at $5.08 billion, XRP continues to attract investors. Strengthening Dark Defender’s analysis, experts like Solberg Invest posit that XRP is “on the verge of something big.” According to his analysis, the XRP price could hit