Cryptocurrency

Chad

Cryptocurrency analyst, and professional game designer, Chad Steingraber has delved into the impacts of an <a href="https://www.newsbtc.com/xrp-news/xrp-etf-trending-x-heres-why/" target="_blank" rel="noopener noreferrer nofollow">XRP Exchange Traded Fund (ETF) </a>on the value of XRP. Steingraber has provided a detailed analysis of how the <a href="https://www.newsbtc.com/xrp-news/key-requirements-for-spot-xrp-etf-approval-revealed-amidst-4500-price-surge-target/" target="_blank" rel="noopener noreferrer nofollow">approval of an XRP ETF</a> could trigger a significant price increase for the cryptocurrency.&nbsp;
<h2 id="b-xrp-etf-to-fuel-price-increase-b">XRP ETF To Fuel Price Increase&nbsp;</h2>
In a recent X (formerly Twitter) post, Steingraber <a href="https://x.com/chadsteingraber/status/1755767735382925457?s=46" target="_blank" rel="noopener noreferrer nofollow">revisited and addressed</a> a series of tweets made in December 2023. In those tweets, he highlighted the potential for an XRP ETF to <a href="https://bitcoinist.com/crypto-expert-xrp-etf-approved/" target="_blank" rel="noopener noreferrer nofollow">boost the price of the token</a>, emphasizing the intricate mechanics behind this proposed surge.&nbsp;
<blockquote class="twitter-tweet">
 There are two prongs to this<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2b07.png" alt="⬇" class="wp-smiley" style="height: 1em; max-height: 1em;">
 Investment // Utility
 The utility side will be the same as an ETF, except the <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#XRP</a> in this utility case will be collected into a Institutional Liquidity HUB and will be actively used. <a href="https://t.co/Q98DYoExwj" target="_blank" rel="noopener noreferrer nofollow">https://t.co/Q98DYoExwj</a>
 — Chad Steingraber (@ChadSteingraber) <a href="https://twitter.com/ChadSteingraber/status/1755767735382925457?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 9, 2024</a>
</blockquote>
Steingraber explained that following the possible <a href="https://www.newsbtc.com/analysis/xrp/xrp-spot-etf-coming-to-the-us/" target="_blank" rel="noopener noreferrer nofollow">introduction of an XRP ETF</a>, public exchanges may become key repositories by holding a substantial volume in XRP, effectively playing a crucial role in shaping the foundation of the cryptocurrency’s market presence.&nbsp;
Additionally, as the ETF fund actively participates in the market by buying XRP from the public, the interaction may establish a direct connection between the ETF and the existing <a href="https://www.newsbtc.com/xrp-news/50-of-xrp-supply-sent-to-bitfinex/" target="_blank" rel="noopener noreferrer nofollow">XRP supply.</a>
Following this, the ETF would lock up the acquired XRP, thereby reducing the token’s circulating supply, and simultaneously increasing demand and triggering a potential price increase.&nbsp;
In his recent post, Steingraber unveiled a two-pronged strategy for an <a href="https://www.newsbtc.com/analysis/xrp/valkyrie-exec-xrp-etf-price-100/" target="_blank" rel="noopener noreferrer nofollow">XRP ETF to trigger a price increase</a>, leveraging both utility and investment. Delving into the utility aspect, the crypto analyst envisions a scenario where <a href="https://www.newsbtc.com/analysis/xrp/heres-how-xrp-trading-volume-fared-in-q4-2023/" target="_blank" rel="noopener noreferrer nofollow">XRP</a> collected through the ETF is directed into an institutional liquidity hub. This hub, functioning as a centralized pool, would allow investors to actively utilize XRP, potentially impacting the token’s value.&nbsp;
On the investment front, Steingraber anticipates that an XRP ETF could <a href="https://www.newsbtc.com/xrp-news/xrp-investors-become-fearful-time-to-buy/" target="_blank" rel="noopener noreferrer nofollow">drive investments</a>, potentially influencing the cryptocurrency demand and increasing the token’s price.&nbsp;
Despite these optimistic projections for XRP, it’s important to note that they <a href="https://www.newsbtc.com/analysis/xrp/institutional-inflows-xrp-244-etf/" target="_blank" rel="noopener noreferrer nofollow">remain speculative</a>, as no official reports confirming the introduction of an <a href="https://bitcoinist.com/xrp-etf-approved-in-2024/" target="_blank" rel="noopener noreferrer nofollow">XRP ETF</a> have been issued.&nbsp;
<h2 id="b-analyst-provides-insights-into-xrp-s-continued-price-declines-b">Analyst Provides Insights Into XRP’s Continued Price Declines</h2>
In another X post, Steingraber <a href="https://x.com/chadsteingraber/status/1755775591662407795?s=46" target="_blank" rel="noopener noreferrer nofollow">briefly outlined </a>the reasons behind XRP’s struggle to achieve significant gains for years. The crypto analyst revealed that the primary factor influencing the <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-bearish-factors-0-58/" target="_blank" rel="noopener noreferrer nofollow">lack of an upward movemen</a>t in the price of XRP was the absence of new money entering the market.&nbsp;
<blockquote class="twitter-tweet">
 If you want to know why <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#XRP</a> hasn’t gone up..
 I’ll tell you —&gt; New Money Net Inflows.
 That’s all that matters.
 — Chad Steingraber (@ChadSteingraber) <a href="https://twitter.com/ChadSteingraber/status/1755775591662407795?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 9, 2024</a>
</blockquote>
When <a href="https://x.com/xrp_miss/status/1755778979649216829?s=46" target="_blank" rel="noopener noreferrer nofollow">asked</a> about the likelihood of <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-4000-surge/" target="_blank" rel="noopener noreferrer nofollow">XRP’s price </a>surging in 2024, Steingraber predicted that both this year and 2025 could witness a significant “blow-off top” for XRP. He affirmed that once the <a href="https://www.newsbtc.com/ripple-2/sec-700-million-ripple-xrp/" target="_blank" rel="noopener noreferrer nofollow">legal dispute</a> between XRP and the United States Securities and Exchange Commission (SEC) is resolved and settled, there’s a possibility of new money flowing into the XRP market, potentially leading to an increase in the value of the cryptocurrency.&nbsp;
<blockquote class="twitter-tweet">
 Do you honestly think it starts to go up this year?
 — M i s s X R P <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f5a4.png" alt="🖤" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@xrp_miss) <a href="https://twitter.com/xrp_miss/status/1755778979649216829?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 9, 2024</a>
</blockquote>
Featured image from iStock, chart from TradingView

What Happens If An XRP ETF Is Approved? Crypto Pundit Has Answers

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