AI Predicts +35% Surge in XRP Price Following the Launch of Bitcoin ETF

 Key takeaways:

• Our algorithm projects a 35% increase in XRP’s value, from $0.56 to $1.03, by the end of January 2024.
• The prediction is based on the historical correlation between XRP and Bitcoin, as well as the expected impact of the BlackRock Bitcoin ETF on the crypto market.
• The SEC is expected to announce its decision on the BlackRock Bitcoin ETF by January 10, 2024.
• BlackRock is confident that its application will be approved, as it meets the SEC’s standards and requirements.

Here’s How High AI Predicts XRP Price Will Go After BlackRock’s Bitcoin ETF Launch

Could the BlackRock Bitcoin ETF Affect the Price of XRP in 2024? XRP, the native cryptocurrency of the Ripple network, has been one of the best-performing digital assets in 2023 despite the ongoing legal sage between Ripple and the SEC. The coin has soared over 200% in value since the start of the year, reaching a high of $0.63 on Jan 2nd.

But it has also faced some volatility and resistance as it struggles to break above the $1 level and sustain its momentum. Currently, the token is trading at $0.56, down by 0.08% in the last 24 hours.

According to our AI price prediction, XRP could see a boost in its price in the next few weeks as the SEC nears a crucial decision on the BlackRock Bitcoin ETF. The algorithm predicts that XRP could skyrocket by 35% by the end of January 2024, reaching $1.30 per coin.

According to a recent report, there is a 90% chance that the SEC will approve BlackRock’s Bitcoin ETF, which is the most likely scenario, according to experts and analysts. It is one of the most anticipated and promising products in the cryptocurrency space, which may make it easier and more accessible for institutional and ordinary investors to access Bitcoin if approved. 

The world’s largest asset manager filed for the iShares Bitcoin Trust on June 16, 2023, and it triggered a 63% surge in Bitcoin’s value, pushing it beyond $40,000 from $25,500, showcasing market reaction to institutional involvement.

SEC has set a deadline of January 10, 2024, to announce its decision on the BlackRock Bitcoin ETF, as well as several other competing applications from firms like Fidelity, WisdomTree, Valkyrie, and ARK. However, BlackRock is more confident that its application will be approved, as it meets the SEC’s standards and requirements for a spot Bitcoin ETF.

The acceptance and demand of cryptocurrencies, particularly Bitcoin, may rise as a result of the approval of the BlackRock Bitcoin ETF, which could have a significant effect on the cryptocurrency market. As more investors enter the market, prices will rise, and the industry will also receive increased attention, creating a positive feedback loop.

Furthermore, because XRP provides quick, affordable, and scalable cross-border and cross-platform transactions, it stands to gain from this growing demand and acceptance. The token was created with the goal of facilitating cross-border payments and remittances, as well as interoperability across different blockchains and networks. It also has a passionate and active developer and support community that is working hard on many projects and initiatives to further the Ripple ecosystem.

The Bottom Line

In short, XRP could ride the wave of the BlackRock Bitcoin ETF and reach new highs in 2024, as it showcases its potential and value to the crypto market.