XRP News: Potential 27% Rally as Asset Managers Prepare for XRP ETF Filings

Ripple's XRP is poised for a significant price surge as asset managers gear up to submit XRP ETF filings to the SEC. The NYSE Arca has already filed a 19b-4 application to convert Grayscale's XRP Trust into a spot ETF, signaling growing institutional interest. XRP's price action shows consolidation within a bullish pennant pattern, suggesting a potential 27% rally. The token has already seen a 2% increase during the Asian trading session following the NYSE Arca filing. This development highlights the increasing momentum behind XRP as a key player in the cryptocurrency market.

Ripple's XRP Set for 27% Jump as Asset Managers Gear Up for XRP ETF Filings

Ripple's XRP is showing signs of an uptick as asset managers prepare to send a flurry of XRP ETF filings to the SEC next week. The NYSE Arca has submitted a 19b-4 for the conversion of Grayscale's XRP Trust to a spot ETF. XRP continues to consolidate within a bullish pennant, indicating a potential 27% rally. The remittance-based token is up 2% in the Asian session on Friday following the NYSE Arca filing. Grayscale is set to convert its XRP Trust into a spot XRP ETF, as the race for new altcoin ETFs in the United States gains traction.

XRP Price Stuck In Consolidation: Where’s The Next Big Move?

XRP price has entered a consolidation phase after facing resistance at the $3.20 zone. Currently trading above $3.050 and the 100-hourly Simple Moving Average, XRP shows potential for further gains if it can break through the $3.20 resistance level. The cryptocurrency recently outperformed Bitcoin and Ethereum, rallying above the $2.95 and $3.00 levels before correcting slightly. A bullish flag pattern was identified on the hourly chart, suggesting a possible upward trend if the resistance is cleared.

XRP on the brink of 27% rally amid surge in crypto ETF filing activities

Ripple's XRP is up 2% in the Asian session on Friday following the New York Stock Exchange (NYSE) Arca 19b-4 filing with the US Securities and Exchange Commission (SEC) for the conversion of Grayscale's XRP Trust into a spot ETF. The remittance-based token could see a 27% rally in the coming days as issuers will potentially send a flurry of XRP ETF filings to the SEC.

Grayscale Files for Ripple (XRP) ETF Listing on NYSE

Grayscale has applied to the U.S. Securities and Exchange Commission (SEC) to convert its XRP Trust into an exchange-traded fund (ETF) on NYSE Arca. The XRP Trust is one of the largest investment vehicles tied to Ripple’s native token, with over $16 million in assets under management. Grayscale argues that converting the trust into an ETF would provide investors with easier access to XRP, eliminating the need for direct purchases and offering oversight by a national securities exchange. This move aligns Grayscale with other investment firms like CoinShares, Wisdom Tree, ProShares, REX Shares, and Bitwise, which have also filed for XRP ETFs.