The broader crypto market has recorded a rebound today, with XRP price holding the $2.50 mark amid ETF optimism.
For context, in recent XRP news, Canary Capital filed for an XRP ETF with the US SEC, which has fueled optimism among traders.
However, experts have warned of a potential Ripple coin crash to $1.5 as the bearish sentiment persists. For context, XRP price has slipped from the brief $3 mark to as low as $1.5 amid the October crypto market selloff.
Although the crypto has recorded some recovery, market experts remain concerned over the potential future movement of the coin.
Despite that, the recent XRP ETF optimism seems to be lifting market confidence, which might alleviate the crash concerns in the near future.
XRP Price Rebounds: Can the Rally Sustain?
The XRP price has recorded a recovery and traded at $2.53 at the time of writing, witnessing a surge of around 2.39% in the last 24 hours.
However, its trading volume has slipped around 22% to $5 billion in the last 24 hours, indicating lesser activity in the market.
Meanwhile, XRP news observes that the latest ETF optimism has fueled optimism among traders. The optimism stems from Canary Capital’s recent filing for a spot XRP ETF with the US Securities and Exchange Commission (SEC).
According to leading crypto journalist Eleanor Terrett, the firm has filed an updated S-1 for its XRP spot ETF, removing the "delaying amendment" that previously gave the SEC control over timing.
This development potentially paves the way for a launch date of November 13, pending Nasdaq approval.
Meanwhile, Bloomberg analyst Eric Balchunas noted that the XRP filing didn’t undergo the same level of scrutiny from the US SEC as Solana’s did. It is expected to impact the launch timeline, he noted.
However, the fact that the SEC Chair has expressed support for companies utilizing the auto-effective method for ETF launches is a positive sign.
Notably, the potential launch of a spot XRP ETF could be a significant catalyst for the asset’s growth.
According to Bitwise CIO Matt Hougan, such ETFs could see billion-dollar inflows within months, accelerating XRP’s transition from speculative territory to institutional legitimacy.
What’s Next for XRP Price?
Although the XRP ETF optimism has sparked hopes among traders, recent comments from market experts have fueled concerns.
For context, in a recent X post, analyst CRYPTOWZRD has warned of a potential crash in XRP price. According to the expert, the analyst noted that $2.46 is a key support for the Ripple coin.
However, if it fails, it could potentially slip to $2.2, $2, $1.5, or even $1.3 in the near future.
On the other hand, expert EGRAG CRYPTO has also shared the possibility of a potential downturn to $2, if the bearish pressure sustains.
Having said that, investors should manage their portfolio accordingly, despite the soaring XRP ETF optimism.
While a dip to $1.5 looks feasible, the current optimism around XRP exchange-traded funds could alter the scenario.