The XRP price could be on the verge of a significant move, according to stock exchange expert Oliver Michel. Michel points out that XRP is waiting for a catalyst, and the right event could push it much higher. Demand for the digital asset is already building, and if market conditions align, Michel believes the token could reach a new peak in the near term.

Price Could See Key Trigger From Spot XRP ETFs In October

According to his market study, Oliver Michel, CEO of Tokentus, highlights that the most significant spark for the XRP price could be the approval of spot XRP ETFs. He notes that more than seven applications are now waiting for SEC decisions, with deadlines falling between October 18 and 25. If the SEC approves these ETFs, Michel believes they would bring real demand into the market and set the XRP price up for an intense climb.

He recalls that the rollout of Bitcoin and Ethereum ETFs in the past brought a surge of activity and greater attention to the market. In his view, similar approval for XRP would not only confirm rising demand but also draw in a new wave of investors. Current signs already indicate growing interest, as XRP futures at the CME Group reached $1 billion in open interest in just over three months, making it the fastest crypto contract on CME to reach that milestone.

Beyond futures, funds tied to XRP are also seeing heavy inflows. Michel emphasizes that futures-based XRP ETFs have already attracted over $800 million in assets. For him, Go to Source to See Full Article
Author: Sandra White