XRP Price Targets $5 as ETF Approval Speculation Intensifies

• XRP has shot up more than 3% in the past day, unable to break out above $2.5.
• James Seyffart said that the SEC could acknowledge Dogecoin and XRP ETFs on Thursday.
• The approval of spot XRP ETFs in the US could propel the cryptocurrency’s price to $5.

XRP is back in the top 3, reclaiming the spot from Tether’s USDT, which is now back to fourth. This market shuffle happened as XRP’s price was back to $2.47, a solid 3% jump in just 24 hours. This upward move comes on the heels of positive chatter about a potential spot XRP exchange-traded fund (ETF) getting the green light in the United States, as hinted at by FOX Business journalist Eleanor Terrett.

Terrett pointed to a chart put together by Bloomberg ETF analysts Eric Balchunas and James Seyffart. This chart suggested the Securities and Exchange Commission (SEC) might formally acknowledge Grayscale’s 19b-4 filing for the XRP ETF as soon as February 13, Thursday. Typically, the agency takes 15 days to officially respond to a filing. 

Related: XRP at $2.27: A Crucial Test for Its Ongoing Uptrend Resilience

XRP ETF Approval Hype Gains Traction

Worth noting: Grayscale actually put in that filing …

The post XRP Price Targets $5 as ETF Approval Speculation Intensifies appeared first on Coin Edition.