As the ETF theme continues to heat up, coupled with the gradual recovery of market confidence after Ripple's (XRP) legal victory, Ripple (XRP) once again stands in the spotlight. Despite the market still fluctuating and the shadow of co-founder Chris Larsen's selling lingering, analysts remain optimistic about XRP's future.
Bitget Wallet Marketing Director Jamie Elkaleh stated that since Ripple's partial victory in the U.S. court in March, institutional confidence in XRP has significantly increased, paving the way for ProShares' XRP futures ETF and reigniting market expectations for an XRP spot ETF. He pointed out that:
The ETF theme continues to burn, and with the regulatory environment gradually becoming clearer, XRP is regaining market momentum. This shift is strengthening market depth and symbolizes a key step for XRP's legitimacy in the U.S. market.
Under the influence of positive narratives, XRP surged last week, briefly breaking through $3.60, but later retreated to $3.29 due to the pressure of $105 million in long liquidations and concerns arising from Chris Larsen transferring $175 million of XRP to exchanges. Nevertheless, several analysts continue to hold a bullish outlook on XRP's future.
Bitget Research Chief Analyst Ryan Lee stated:
The market's longing for ETFs and the increasingly clear regulations are major catalysts driving XRP to break through $3. If bullish momentum continues, XRP is expected to break through $3.5 in the coming weeks, with the price possibly reaching $4.
Although currently the ETFs related to XRP are limited to futures products, several analysts point out that if the U.S. Securities and Exchange Commission (SEC) maintains a relatively loose stance after the March ruling, there is a possibility that spot ETFs will be approved in the future, triggering a new wave of institutional capital influx.
Meanwhile, Solana (SOL) is also benefiting from a thriving ecosystem and the ETF topic, gaining popularity. Currently, SOL is hovering around $194, and analysts are optimistic that if the funding heat remains, SOL could rise to between $200 and $250.
Jamie Elkaleh added: "Although discussions about Solana's ETF are still in the early stages, they have successfully boosted investment sentiment. As the regulatory tone gradually turns friendly, both XRP and SOL see a significant recovery in market confidence."
Although there are risks of short-term pullbacks or regulatory uncertainties affecting both XRP and SOL, analysts generally believe that positive signs have emerged in the fundamentals and market structure, market liquidity is improving, institutional funds are gradually returning, and with the ETF theme continuing to heat up, even though most products are currently futures, they have begun to build a bridge for retail and institutional investors to enter.
