Ripple’s XRP Eyes $1,000 Target Amid ETF Potential

Ripple’s XRP is in the spotlight due to a potential ETF (Exchange-Traded Fund) approval by the U.S. Securities and Exchange Commission (SEC), which analysts believe could significantly boost its price. Some predict that if approved, XRP could reach a long-term target of $1,000. The introduction of XRP ETFs would attract institutional investors, potentially increasing demand and driving up value. However, the SEC's ongoing lawsuit with Ripple remains a pivotal factor in the ETF approval process, influencing market dynamics.

In the short term, analysts suggest XRP could reach its previous high of $3.84, mirroring the surge in Bitcoin’s price following spot ETF launches. Long-term growth could be supported by the reduced selling pressure if institutional investors enter the market. Former SEC official Marc Fagel indicates that the absence of a direct SEC classification of XRP as a security could open doors for ETF approvals.

Ripple Prepares to Unveil RLUSD Stablecoin

Ripple is gearing up to make a significant move with its RLUSD stablecoin as it continues expanding its supply and working through regulatory approvals. The company recently minted an additional 1.35 million RLUSD on the XRP Ledger, bringing the stablecoin closer to its full launch. This marks the largest RLUSD issuance to date, as Ripple positions itself for major developments post-SEC case.

RLUSD Supply Increases

Ripple's RLUSD supply has grown steadily, with 2.45 million tokens minted in October across four stages. The latest issuance is aimed at increasing liquidity and stress-testing the stablecoin under various conditions. Ripple is waiting for full regulatory approval, which it views as critical to ensure compliance with U.S. laws and avoid legal issues similar to those faced by other stablecoin issuers.

ETF Developments and Market Speculations

In parallel with RLUSD’s expansion, excitement is building over Bitwise’s application for a Spot XRP ETF. If approved, the XRP ETF could drive strong inflows, pushing the price of XRP upward. Market analysts have noted increased whale activity, suggesting that investors are positioning for significant developments in Ripple’s ecosystem.

With RLUSD nearing full launch and ETF prospects on the horizon, Ripple's future looks promising, potentially leading to significant growth within the XRP Ledger and broader crypto market.