XRP to $29? ETF Applicants Lay Out Price Targets as Odds of Approval Surge on Polymarket

However, Bitwise, one of the applicants for an XRP exchange-traded fund (ETF), has recently published a 33-page report on XRP, called “The Investment Case for XRP”.

In it, the team around Chief Investment Officer Matt Hougan makes some interesting price predictions.

Bitwise’s Bull and Max Scenario Suggest Solid XRP Adoption

Their bear case sees the price per coin drop to just US$0.13 (AU$0.20) by 2030, while the bull case suggests US$12.68 (AU$20.14). However, it’s the max case that really gets XRP holders excited, because the analysts say the price could reach US$29.32 (AU$46.59) by 2030.

They believe institutional adoption is crucial for XRP, and they base the bear case scenario on a potential lag in this adoption. This is especially the case if the coin can’t get traction with the banking sector and fails to make an impression in key sectors such as payments and tokenisation.

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The bull case assumes that “XRP maintains its current trajectory with steady network growth”.

This assumes “minimal new headwinds”, especially in light of recent developments with the US Securities and Exchange Commission (SEC) and an increase in institutional adoption and new partnerships.

The best-case scenario – the max scenario, where number goes moon – would see XRP at almost 30 USD, with XRP securing “a modest but meaningful slice of the multitrillion payments and tokenization use cases”, with substantial usage and fee revenue.

That’s based on projections that tokenisation could be worth north of US$10.9 trillion (AU$17.3 trillion) by 2030, so even a small capture of that is significant.

This is because XRPL transactions consume small amounts of XRP, creating a deflationary mechanism that gradually reduces the token supply and could potentially increase XRP’s long-term value.

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The analysis is interesting and well worth a read of the 33 pages, though as one of the institutions wanting to offer their clients an XRP ETF it’s worth keeping this relationship in mind.

XRP ETF Chances High, Is BlackRock About to Enter the Game?

Nevertheless, the approval of these ETFs becomes an increasing possibility, especially given XRP’s recent legal clarity.

Nate Geraci, the President of The ETF Store, said on Crypto Twitter that the ETF approval is “obvious”, following the recent legal developments and is now “simply [a] matter of time”. Geraci is also convinced that other big players will soon enter the XRP ETF race:

And yes, I expect BlackRock, Fidelity, etc to all be involved. XRP currently 3rd largest non-stablecoin crypto asset by market cap. Largest ETF issuers aren’t going to ignore this.

Nate Geraci, The ETF Store

Meanwhile, pundits’ expectations for an approval of these XRP ETFs are soaring. Polymarket shows that 85% believe we have a fund approved before the end of the year.

With regard to the current price, at the time of writing XRP trades for US$2.38 (AU$3.77), down 2.6% on the daily chart and 4.4% on the weekly.

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However, that’s still 277% up over the past year, standing in third spot by market cap (ex. Stablecoins), as one of the best performers of recent times.

Ethereum and Solana for example are down 43% and 26% respectively in the past year, while Bitcoin managed a 25% increase.