US spot XRP exchange traded funds are is seen to fuel a big bang for the Ripple-linked cryptocurrency’s price in November.
The $136 billion digital coin is well-positioned to lead the next wave of the bull run alongside a tsunami of imminent ETF approvals.
That’s according to Ryan Lee, chief analyst at crypto exchange Bitget, who told DL News that XRP’s price is well-positioned to surge some 21% to hit as high as $2.75 thanks to “cross-border liquidity flows and momentum around stablecoin initiatives.”
Punters on Polymarket gives XRP’s price a 36% chance of hitting $2.60 in November.
To be sure, XRP is currently trading at $2.27, nearly 40% below its $3.65 all-time high from July, as markets continue to reel from the $1 trillion selloff.
Lee’s bullish call comes as the fourth largest crypto is hot off the heels of a blockbuster November 13 debut on Wall Street. The first spot XRP ETF launched by Canary Capital attracted $250 million in its first day of trading and saw nearly $60 million in volume.
That same day, investors pulled $866 million from US spot Bitcoin ETFs, while Ethereum products also lost $260 million, a striking divergence that signals institutional investors are exploring fresh bets beyond the top two crypto tokens.