XRP exchange-traded funds absorbed more than 506 million tokens in their first month of trading, building momentum for a potential price surge that could push the cryptocurrency to $10 by late 2025.
Analyst Chad Steingraber projected the cryptocurrency could climb from its current $2 level to $10 within a year, citing strong institutional demand through newly launched ETFs.
The prediction follows robust early performance from XRP ETFs, which launched starting Nov. 13.
These investment products accumulated more than $944 million in their first trading weeks, according to SoSoValue data.
Canary Capital's XRPC recorded the highest first-day trading volume of any ETF launched in 2024, reaching $59 million.
The funds now hold approximately 0.74% of XRP's circulating supply despite trading for less than one month.
Steingraber pointed to XRP's inclusion in the Bitwise 10 Crypto Index Fund, which began trading Tuesday with $1.25 billion in assets under management.
XRP represents 5% of the fund's portfolio, translating to roughly 30.7 million tokens.
The analyst compared XRP's potential trajectory to Bitcoin, which more than doubled in 2024 following approval of spot ETFs in January.
"It's gonna be less than a year for XRP to go from $2 to $10," Steingraber wrote in a Wednesday post on X.
Franklin Templeton and Grayscale launched their XRP ETFs on Nov. 24, recording first-day inflows of $62.6 million and $67.4 million respectively.
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Multiple issuers including Bitwise, 21Shares, and CoinShares have since entered the market.
Why It Matters
The rapid ETF accumulation could create supply constraints that accelerate price appreciation, similar to patterns observed in Bitcoin following its ETF debut.
Technical analysis supports the bullish case.
XRP broke out above a multi-month symmetrical triangle pattern, with the measured move pointing toward $14-$15 in coming months.
A second bull flag formation reinforces the same target range, suggesting buyers are regaining control.
The patterns typically emerge after prolonged consolidation and precede strong trend continuation.
Institutional adoption through index funds marks a shift in XRP's market structure.
The Hashdex Nasdaq Crypto Index Fund allocates 6.35% to XRP, while Grayscale's CoinDesk Crypto 5 ETF maintains a 5.12% weighting.
These allocations provide sustained buying pressure as funds rebalance monthly based on market capitalization.
XRP traded at $2.11 at press time.
The cryptocurrency would need to gain approximately 374% to reach Steingraber's $10 target.
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