Is XRP ready to "burst the roof"? Expectations for ETF pushing the price up to the zone of 27–39 USD

The price of XRP is drawing attention from the community amidst a wave of optimism about the potential approval of ETF funds for altcoins. This information comes after the Securities and Exchange Commission (SEC) allowed XRP, Solana (SOL), Cardano (ADA), and Stellar (XLM) to be included in the Nasdaq Crypto US Settlement Price Index.

This move is becoming a catalyst for market activity and ETF registration filings. The price of XRP – which has already shown signs of accumulation – could continue to accelerate thanks to legal clarity and increasing demand from institutions in the crypto space.

SEC approves NASDAQ index, adding momentum to ETF expectations and XRP's rally

The SEC has recently approved the restructuring of the Nasdaq Crypto US Settlement Price Index (NCIUS).

The updated index now includes XRP, ADA, SOL, and XLM – instead of just Bitcoin and Ethereum as before. According to a statement from Nasdaq, this restructuring allows the aforementioned altcoins to be used as reference assets for potential investment products in the future.

This update contributes to enhancing liquidity and establishing more consistent pricing standards for these assets. Legal analysts indicate that these are the key factors that helped previously approved spot ETFs.

With this development, XRP and the altcoins included in the index have met an important requirement to qualify as assets in institutional investment products.

Immediately after the information was released, the prices of the aforementioned cryptocurrencies recorded a slight increase. Data from Bitcoin Magazine shows that the price of XRP rose by 1%, ADA increased by 1.50%, SOL went up by 2%, and XLM climbed by 1.96%. These increases indicate a renewed interest from the market in this asset group as the outlook for ETFs becomes clearer.

XRP price shapes according to cycles as ETF expectations continue

Additionally, technical analysts monitoring the price action of XRP also point to the potential continuation of a long-term fractal cycle pattern. Analyst Egrag Crypto posted a chart showing that XRP is entering the second phase of the pattern he calls "Cycle 3."

The chart outlines two strong growth phases in the past of XRP: phase 1 from below 0.01 USD to nearly 3.5 USD, and phase 2 is a slow but broader growth series.

Egrag currently forecasts that the price of XRP will break out around July 2025, based on the repeating structure and Fibonacci extension levels. He believes that the peak of this cycle could be in the range of 27–39 USD – equivalent to an increase of more than 2,500% compared to the current price.

Although these forecasts are primarily based on chart models, the timing aligns with the increasing interest from institutions and the anticipated approval of cryptocurrency ETFs.

The financial industry demands that the SEC restore the "first-to-file" rule in the cryptocurrency ETF race

On June 6, asset management companies such as VanEck, 21Shares and Canary Capital sent a formal letter to the SEC, asking the agency to restore the previous (nộp "first-to-file" rule, trước) approval, that is, approving ETF filings in the order of filing.

This rule was previously applied by the SEC to filings unrelated to crypto, but has recently been replaced by batch approvals, as in the case of Bitcoin ETF and Ethereum ETF.

Companies believe that the SEC's approval of multiple filings at the same time has created an unfair competitive advantage. For example, BlackRock submitted its filing much later than many competitors but still dominates a large portion of the market because it was approved simultaneously.

VanEck and related parties assert that the SEC's approval process should revert to the order of filing to ensure fairness and enhance competitiveness.

VanEck, Canary, and 21Shares are also among the first applicants for spot ETFs linked to Solana, XRP, Litecoin, and Sui. They argue that returning to the "file first, review first" process is not only fairer for issuers but also creates a healthier competitive market.

The letter also noted that delays in approving cryptocurrency ETF funds could hinder major financial institutions from accessing clearly regulated cryptocurrency investments.

Institutional interest is shifting towards altcoins

After the ETH spot ETF is approved in July 2024, institutional investors begin to draw attention to altcoins such as XRP, ADA, and SOL.

Institutional capital watchers believe that investors will not only stop at BTC and ETH but will gradually expand their portfolios to other selected digital assets.

If the spot ETF funds for altcoins are approved, it will pave the way for pension funds, asset management firms, and hedge funds to access the cryptocurrency market legally and with oversight.

The use of these tools can not only draw attention to additional capital flow but also contribute to a more stable market. XRP – which is currently at the center of the lawsuit between Ripple and the SEC – is likely to be more widely accepted after being included in the NCIUS index.

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