The XRP community is abuzz with anticipation as discussions surrounding a potential U.S. Securities and Exchange Commission (SEC) approval of an #XRP exchange-traded fund (ETF) gain momentum.

However, experts attribute the recent 8% surge in XRP's price to scarcity-driven demand rather than ETF speculation. As market analysts predict a potential price range of $33 to $100 based on technical trends and past performance, the possibility of #XRPETF approval could act as a significant catalyst, propelling the price to new heights.

With the U.S. regulatory environment shifting in favor of crypto and recent SEC leadership changes, market participants are optimistic about substantial gains for XRP once regulatory clarity is established.

Rising Momentum in $XRP ETF Applications

Nine firms have already submitted ETF applications for #XRP to the SEC, with more potentially joining the race. Among these is the asset management giant BlackRock, which controls over $11 trillion in assets under management (AUM). BlackRock’s involvement could provide significant momentum, sending a strong signal to the market. While the approval process is still ongoing, the presence of such prominent players in the ETF race indicates growing institutional interest in #XRP .

Experts believe that once an XRP ETF is approved, it could lead to a "supply shock." As ETFs begin to accumulate #XRP , the asset's circulating supply will tighten, creating increased demand for the coin. With fewer coins available on the market and more tokens locked away in custodial holdings, the potential for a price surge is significant.

What’s Next for #XRP Price Following ETF Approval?

The price of XRP has experienced a recent surge, with the price skyrocketing to $2.28, representing a 9% increase. Furthermore, the trading volume has increased by 131% to $5.56 billion in a single day. According to XRP experts Sistine Research, considering its historic performance, XRP could trade hands between $33 and $50 in a matter of days. A more bullish outlook suggests that #XRP can break above $77 and potentially reach $100, driven by the scarcity effects of ETF approval.

Whether or not the SEC allows an XRP ETF hints at much about the future of the cryptocurrency. If a favourable ruling is given, many businesses and investors will start to stockpile XRP to cash in on future price increases. Signs of this potential “front-loading effect” are common in commodity markets and are likely to fuel XRP’s price further as institutional interest intensifies.

#XRP ETF Approval Could Transform the Crypto Market

The discussions surrounding the XRP ETF approval are crucial for Ripple and the broader cryptocurrency industry. However, XRP’s future appears promising, as the SEC saw a leadership change. A new head of the SEC also means new chances of regulatory clarity in the coming months. If the approval of the ETF continues, the asset has the potential to reach new all-time highs, supported by institutional investment and the underlying supply-demand dynamics.