Ripple XRP Outperforms Bitcoin, Solana: Will It Hit $3.2 Next?

Ripple’s XRP token is presently among the best-performing cryptocurrencies successful the apical 100 projects. XRP has outshined Bitcoin (BTC) and Solana (SOL) successful the regular and play charts. The plus has rallied 4.4% successful the regular charts, 9% successful the play charts, and 389.5% successful the yearly charts. Despite the rally, the asset’s terms has dipped 16.4% successful the 14-day charts and 8.3% implicit the erstwhile month.

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Source: CoinGecko

ETF Development Pushing XRP

Source: Bitget

XRP’s latest rally is apt owed to the US SEC accepting Grayscale’s 19b-4 exertion to person their XRP Trust Fund into an ETF. The determination whitethorn person led to a emergence successful capitalist sentiment. The SEC’s Bitcoin (BTC) ETF support past twelvemonth led to the underlying plus hitting a caller all-time high. Investors astir apt expect a akin signifier for XRP. The SEC has accepted the exertion to person the spot into an ETF. The determination does not mean that an ETF has been approved for trade.

Also Read: XRP ETF Filing Accepted by SEC —Is Crypto’s Next Big ETF Wave Coming?

Ripple’s XRP token could person an approved ETF precise soon. According to Bloomberg ETF analysts Eric Balchunas and James Seyffart, XRP has a 65% accidental of getting an ETF support this year.

Will The Asset Hit $3.2?

According to CoinCodex, XRP volition consolidate astir existent levels till aboriginal April earlier rallying. The level anticipates the plus to deed the $3.2 people connected April 10. CoinCodex predicts XRP volition deed a caller all-time precocious of $4.37 connected April 15. Hitting $4.37 from existent terms levels volition entail a rally of astir 70%.

Source: CoinCodex

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There is besides a anticipation that XRP volition look a correction successful the coming weeks. Macroeconomic factors whitethorn contiguous important hurdles to the crypto market. The Federal Reserve is yet to denote an involvement complaint chopped for this year. Investors whitethorn go weary of risky assets, specified arsenic cryptocurrencies.