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Members of the XRP community are now projecting whether or not the coin can soar to $5 should an XRP ETF and likely Ripple Labs IPO emerge.
Speculations regarding the price of XRP are an age-long conversation in the community. Despite persistently trading below $1 since November 2021, XRP proponents contend the token is worth more than its current valuation.
Amid sustained confidence of an imminent price surge, former Ripple Labs Director Sean McBride recently triggered talks around XRP’s bullish growth potential with his latest dual prediction.
Potential XRP IPO and ETF
Considering XRP’s position as the 6th largest cryptocurrency, many community members are optimistic that it can attract investment products tailored for Bitcoin (BTC) and Ethereum (ETH), including spot ETFs.
McBride hinted at this possibility when he predicted that the community is likely to see an XRP ETF later this year or, at the latest, by 2025.
The expectations of an XRP ETF predate the approval of spot Bitcoin ETF in the US. In Q4 last year, there was a false filing for XRP ETF with links to investment management giant BlackRock.
Though BlackRock denied knowledge of the filing, the reactions to the filing exposed the community’s desire, evidenced by XRP’s price upsurge at the time.
McBride’s projection also aligns with remarks from Ripple CEO Brad Garlinghouse, who is convinced that “numerous ETFs around different crypto” are inevitable.
Garlinghouse walked down memory lane in a Bloomberg Interview, noting that diversification is like an evolutionary trend in the industry, and, as such, getting an XRP ETF cannot be ruled out.
Ripple IPO Plans
Another major fundamental within the XRP community is the likelihood of Ripple Labs going public through an Initial Public Offering (IPO). Amid speculations, Garlinghouse finally attested to the exploration of this move, but outside the United States.
The lack of regulatory clarity in the US has made the country unattractive to Garlinghouse, and time will tell whether or not the firm will make the move soon. To McBride, the IPO is likely to become a reality in 2025.
Should these projections be actualized, it might contribute to an XRP surge toward lofty price predictions, such as $5. Recall that last month, market analyst EGRAG presented a pathway for an XRP rally to $5.
With XRP’s price and market capitalization pegged at $0.5382 and $29,360,872,719, the $5 target will imply a growth of 930% from the current level.