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Here’s Ripple Price If XRP ETF Matches Bitcoin’s 47B Inflow

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Ripple price could skyrocket XRP ETF optimism was revived by Bitwise Asset Management’s filing in Delaware. If approved, this will be the first XRP ETF for the United States market. Investors now speculate how this development could impact XRP price in the future. The approval of such an ETF would impact the price of XRP massively, especially if it attracts inflows similar to Bitcoin’s $47 billion.

If XRP ETF Approved, Ripple Price Could Skyrocket

If an XRP ETF is approved, the price of XRP could explode. However, to understand how high it would go, we have to study how BTC and ETH reacted to the approval of their ETFs.

  • Bitcoin Reaction: When the spot Bitcoin ETF was approved on January 10, 2024, the market saw a massive influx of capital, exceeding $1.6 billion just minutes into the launch.

btc pricebtc price

The surge in demand boosted the BTC price by 39% over the following months, and they are currently hovering around $61,500.

  • Ethereum Reaction: The approval of the Ethereum ETF in June 2024 led to investor interest and substantial inflows. While the ETH ETF initially saw some inflows, the outflows have generally become significant, and the Ethereum price dropped. Since the launch, the price of Ethereum has not surpassed the high of $3,521. Instead, the asset has lost 30% of its value and is trading at $2,478 today.

Ethereum Ethereum

Ethereum’s lacklustre performance post-ETF could be attributed to a lack of volatility following uncertainty in the global markets, which led to investors preferring Bitcoin as a hedge against inflation.

  • Potential Ripple Price Reaction: If an XRP ETF were to receive approval, we could expect an either/or situation, drawing from Bitcoin and Ethereum’s performance.
Ripple PriceRipple Price
Ripple Price chart

Given the current XRP market cap of $34 billion, a $47 billion inflow would push the Ripple price up moderately by 150%, with a potential extension to 300%. These scenarios could push the XRP price to $1.5 and $2.49, respectively.

Why XRP ETF is Different Than BTC or ETH ETF

An XRP ETF, if ever approved, will not be the same as BTC and ETH. Unlike the latter, the former doesn’t have to face the same downside pressure from Grayscale outflows, noted Sistine Research on X.

This unique aspect would make XRP ETFs more attractive to investors. Despite their performance today, Bitcoin and Ethereum ETFs recorded huge inflows during their first trading day. ETH ETF registered $107.8 million, while Bitcoin recorded $4.5 billion. Nevertheless, both the ETFs experienced outflows Grayscale despite the positive volume. 

Since XRP does not have the same Grayscale outflow pressure, its price could experience a more sustained increase.

Conclusion

The approval of an XRP ETF may have become possible after Bitwise Asset Management filed for an ETF with Delaware authorities. The ETF would be different from BTC and ETH, performing better due to the lack of outflow pressure from Grayscale. The Ripple price could surge to $1.5 or higher.

Frequently Asked Questions (FAQs)

An XRP ETF approval would mark the first XRP-based exchange-traded fund in the U.S. market, allowing institutional investors to easily gain exposure to XRP. It could lead to massive inflows of capital, similar to the impact seen with Bitcoin and Ethereum ETFs.

XRP differs from Bitcoin and Ethereum in that it does not face the same downside pressure from Grayscale outflows, making it potentially more attractive to investors. While Bitcoin and Ethereum ETFs saw large inflows initially, they later faced outflows due to Grayscale pressure, which XRP could avoid.

Projections suggest XRP could rise to between $1.50 and $2.49, depending on the size of the inflows following the approval of an ETF.

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Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bittensor

Bittensor (TAO) and These Two Coins Are Safe Bets Amid the Geo-Political Tension

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5 hours ago

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October 2, 2024

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Bittensor (TAO) price and the rest of the crypto market are down following rising geopolitical tensions in the Middle East. For many investors, the crypto market’s ‘Uptober’ rally is at risk of being cut short if Bitcoin price slides lower. Are there still safe bets in the current murky waters of the falling crypto markets?

Why Bittensor (TAO) and These 2 Coins Could Be Safe Bets

The Israel and Iran war has escalated further after Iran fired about 200 ballistic missiles at Israel. According to the Wall Street Journal (WSJ), the Israeli Iron Dome defense mechanism was able to intercept a large number of the rocket missiles, but there were impacts in the central and southern regions.

The entire crypto market is down 5.3%, hanging around $2.261 trillion. While the crypto community is panicking, these three coins could hedge your portfolio against more significant losses during this geopolitical tension.

1. Bittensor (TAO)

Bittensor (TAO) price reacted well to the general crypto market dump late last night following the news of the Iran attack on Israel. The price of TAO did not budge below $520 while the rest of the cryptos tanked. 

TAO price is down 10% in the last 24 hours and is trading at $538. It is in consolidation, which is bullish for a dropping market.

Bittensor PriceBittensor Price

This consolidation zone is part of a bullish pennant, a continuation pattern. As fear, uncertainty, and doubt (FUD) grip the rest of the market, TAO price is gearing up for 52% breakout that could send it to $900, and potentially $1000.

2. Solana (SOL)

Apart from Bittensor (TAO), you can explore Solana. Even though the Solana price has dropped 5.3% following the breaking news of the attack, it is still in a massive bullish pennant formation and has a high chance of breaking out.

Moreover, the SOL price is firmly above its 50-day and 200-day exponential moving averages (EMA), which confirms that despite the red markets, bullish sentiment still dominates the SOL price chart.

Solana PriceSolana Price

A breakout from the bull pennant could catapult the Solana price 115% to the upside, settling around $365, which would also be a new all-time high for the asset.

3. XRP (XRP)

The XRP price has maintained between $0.45 and $0.75 for most of last year and this year despite the crypto market experiencing several crashes. In fact, if you invested $1,000 in XRP on October 2, 2023, your investment would have only grown by 15% by today, adding only $150 to it. 

During that time, the crypto market experienced sharp increases and declines, all of which XRP braced.

xrp pricexrp price

While this is not lucrative for any investor, the choppy nature of the XRP price is exactly what is needed in times of uncertainty to hedge against extreme losses awaiting better market conditions.

Conclusion

Bittensor (TAO), Solana (SOL), and XRP have demonstrated resilience and stability during the ongoing geopolitical tensions, making them potential safe bets in an otherwise volatile crypto market. While uncertainty looms, these coins offer promising opportunities for hedging against significant losses. However, investors should remain cautious, conduct thorough research, and consider diversifying their portfolios to mitigate risks in the current unpredictable environment.

Frequently Asked Questions (FAQs)

TAO’s current consolidation zone suggests a bullish pennant formation, a pattern often indicating a breakout in price. Despite recent market fluctuations, TAO is positioned for a 52% breakout, potentially reaching $900-$1000. Its ability to resist sharp declines makes it a potential hedge against larger market losses.

All three coins—Bittensor (TAO), Solana (SOL), and XRP—have shown patterns of stability or potential growth despite recent geopolitical tensions. TAO and SOL are positioned for potential breakouts based on bullish technical patterns, while XRP’s steady performance offers a buffer against sharp market downturns.

Rising geopolitical tensions, such as the conflict between Iran and Israel, have created uncertainty in global markets, including cryptocurrencies. This has led to a general decline in the crypto market, with many investors seeking safe-haven assets to mitigate risk.

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Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance (BNB) Coin

Will Binance’s New Regulatory Win Help BNB Price Avoid $500 Breakdown?

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8 hours ago

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October 2, 2024

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BNB price plunged 3.4% in the last 24 hours to currently trading at $554. The renewed selling pressure follows the Bitcoin crash below $65000 as geopolitical tension between Israel and Iran escalates. Despite the broader market pullback, Binance further expanded its global reach by recently securing regulatory approval from Argentina’s National Securities Commission (CNV).

Will Binance’s Latest Regulatory Win Shield BNB Price From a $500 Breakdown?

Binance, the largest cryptocurrency exchange service by trading volume, has recently achieved its 20th global regulatory milestone by registering as a Virtual Asset Service Provider (VASP) in Argentina. This move enables Binance’s mobile and web applications to be fully accessible to users in Argentina, as the exchange is now officially registered as a licensed crypto service provider in the country.

VASP approval followed the recent registrations in Kazakhstan, India, and Indonesia, allowing Binance to strengthen its regulatory foothold across the globe. 

Guilherme Nazar, Binance’s Head of Latin America, says, “Argentina is a key market for Binance. We will continue to work closely with the authorities to develop the industry most sustainably and securely for the benefit of the crypto community and society as a whole.”

Thus, Binance’s compliance with regulatory authority accentuates its efforts to deliver a more robust, secure, and transparent crypto ecosystem, naturally surging the demand pressure in BNB price— its native cryptocurrency.

Former Binance CEO Changpeng Zhao (CZ) was released from a U.S. federal prison on September 27, 2024. He had served a four-month sentence for failing to implement adequate anti-money laundering (AML) measures at Binance.

BNB Coin Hints 4% Drop Before Major Reversal

Amid the geopolitical tension, the BNB price shows a notable fall from $618 to $554, accounting for a 13.2% loss. The bearish turnaround invalidates the $600 breakout from late September, strengthening the seller’s grip over this asset.

With sustained selling, the Binance coin price could plunge another 4% to retest the 200-day exponential moving average at $530. This support, currently coinciding with an ascending trendline intact since August 2024, could act as a suitable line for reversal.

The bullish reversal will keep the near-term trend bullish as buyers continue to accumulate at market dips. Thus, the BNB price could rebound 11.8% to rechallenge the $200 barrier and chase $721.

BINANCE:BNBUSDT Chart Image by sahilmahadik07BINANCE:BNBUSDT Chart Image by sahilmahadik07

However, if the BNB price breaks below support trendline, the bearish momentum will accelerate for a prolonged downfall to $471.

Frequently Asked Questions (FAQs)

Binance recently achieved its 20th global regulatory milestone by securing approval from Argentina’s National Securities Commission (CNV)

The $530 level serves as a critical accumulation zone for BNB, supported by the 200-day exponential moving average (EMA) and an ascending trendline

The ongoing geopolitical tension between Israel and Iran has contributed to renewed selling pressure in the cryptocurrency market

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Chainlink Price

3 Reasons Chainlink Price May Be Bigger than BTC and ETH in 2025

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1 day ago

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October 1, 2024

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Chainlink price has been on an upward trajectory throughout the month of September, rising by as much as 39% and making higher highs. Investors are closely watching this gem as they believe it could one day be bigger than even Bitcoin (BTC) and Ethereum (ETH). But how exactly will this happen?

Bitcoin and Ethereum are the world’s largest cryptocurrencies in terms of market cap and popularity. The BTC price has a market cap of $1.26 trillion, while the ETH price follows it with $318 billion. On the other hand, the LINK price is sitting at a $7.6 billion market cap in the 18th rank, according to CoinGecko data.

However, this decentralized finance (DeFi) project is not to be underestimated, as it possesses the power to rise to the top, potentially displacing BTC and ETH. Here are a few reasons this feat could be possible in 3 years.

1. Increasing Partnerships and Adoptions

Chainlink has been forming significant partnerships with major companies and projects, including government agencies like the Depository Trust and Clearing Corporation (DTCC). Moreover, the collaboration with DTCC has allowed Chainlink to work with top U.S. financial institutions such as $1.5 trillion AuM Franklin Templeton and $1.7 trillion AuM Invesco, among others. 

work with top U.S. financial institutions work with top U.S. financial institutions

Additionally, its collaboration with SWIFT aims to integrate traditional finance with blockchain technology, which could drive substantial adoption, usage, and, eventually, Chainlink price.

2. Dominance in Oracle Technology

Chainlink is the leading decentralized oracle network, crucial for bridging smart contracts with real-world data. Banks that move over quadrillions of dollars need to be able to pick the most secured and widely adopted standard. They are testing with Chainlink now, and once they’re ready, trillions of dollars will be piling into this new age of the internet, flowing through CCIP and other services provided by Chainlink.

In its latest adoption, Chainlink has secured a partnership with ANZ, a leading bank in Australia with over $1 trillion AuM. In the partnership, Chainlink’s Cross-Chain Interoperability Protocol (CCIP) will help enable the secure cross-chain exchange of tokenized real-world assets (RWA).

Major banks and corporations choose Chainlink CCIP for its security, reliability, and flexibility to connect private blockchains with other private chains OR even public chains. This dominance creates demand for the LINK token, which will reflect in Chainlink price increments in the future. This partnership is part of the Project Guardian program, facilitated by the Monetary Authority of Singapore.

While it seems obvious, staking has proven to be one of the most efficient price movers in the crypto space. For instance, Solana has a circulating supply of 468.4 million coins, and 99% of the supply is staked, making the coin scarce as meme coins on the chain increase its demand. This partly contributed to SOL price surging 680% in the last year from sub-$20 prices to over $150 today.

A total of 626.8 million LINK is in circulation, with investors staking 6.87% of this. 

Chainlink Price TLVChainlink Price TLV

As more LINK is staked and demand from institutions and retail skyrockets, Chainlink price is expected to surge and potentially surpass BTC and ETH in the coming years.

Conclusion

Chainlink price looks set to make significant strides in the blockchain and decentralized finance sectors, with its dominance in Oracle technology, increasing adoption by major institutions, and the potential of staking to drive demand for LINK. As partnerships with organizations like SWIFT and ANZ deepen and the need for secure, reliable data integration grows, Chainlink could see substantial value growth. While surpassing Bitcoin and Ethereum may seem ambitious, the unique value Chainlink brings to the crypto ecosystem suggests it could be a top contender in the coming years.

Frequently Asked Questions (FAQs)

Chainlink specializes in decentralized oracle technology, which bridges blockchain smart contracts with real-world data. Unlike Bitcoin (BTC) and Ethereum (ETH), Chainlink is a leader in providing the infrastructure needed for smart contracts to interact with off-chain data, a key component in decentralized finance (DeFi) and other blockchain applications.

Chainlink has secured significant partnerships with major organizations such as SWIFT, the Depository Trust and Clearing Corporation (DTCC), and leading banks like ANZ. These partnerships position Chainlink at the forefront of integrating blockchain technology with traditional finance, which could drive substantial adoption and increase the value of its native token, LINK.

While Bitcoin and Ethereum have much larger market caps, Chainlink’s potential to surpass them stems from its unique role in DeFi, its growing number of high-profile partnerships, and the adoption of its oracle technology across traditional finance. If these factors continue to expand, Chainlink’s price could see dramatic growth over the next three years.

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Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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