The probability that by the end of this year the price of XRP will soar to $5 is extremely high. The current demand for XRP from investors on Wall Street due to recently launched spot exchange-traded funds (ETFs) is an important bullish factor that traders should consider before panicking and selling. The cryptocurrency analyst under the nickname XrpArthur noted that over the last four weeks, the XRP price has fallen approximately by 30% and repeatedly tested an important support level in the area of $1.9 against the backdrop of strong fear before further decline.
At the beginning of the year, the price of the altcoin underwent at least four rounds of re-testing and recovered after falling to the support level around $1.9. It is worth noting that this liquidity level was the main resistance level during the bull market for cryptocurrencies in 2021. According to a crypto analyst, a conservative distribution of funds in American spot XRP-ETFs could lead to the withdrawal of 4–5 billion XRP by the end of this year. Already in the first week of operation, the spot XRP-ETF from Canaru Capital acquired XRP worth more than $281 million. The crypto analyst predicted that the upcoming spot ETFs on XRP from Franklin Templeton, Grayscale, and 21Shares will receive 10 times more than Canaru Capital. In such a scenario, the price of the altcoin could recover to $5 by the end of this year. In any case, according to the crypto analyst, XRP will reach a base level around $3.2. In the case of an extreme bullish trend, the token could rise above $6.#Write2Earn $XRP
