XRP : A well-known person in the XRP community explained that XRP’s total value could go up by $5 billion each day if it got the same $500 million increase that the BlackRock IBIT ETF did on February 13.
XRP hasn’t done well, and its supporters are worried and upset. Chad Steingraber, an experienced game designer and important member of the XRP group, talked about why it hasn’t been doing well.
XRP Products See $500K Inflows in 4 Weeks
Yesterday, Steingraber highlighted that money has been going into investments related to XRP for the last four weeks, based on information from CoinShares. The data indicates that between January 19 and February 9, these XRP investments gained a total of $500,000, which means they got about $125,000 more each day.
The new information shows that on February 9, XRP got $300,000 more money. On the same day, Bitcoin (BTC) got much more, $1.089 billion, which is more than XRP got in many months. Also, on February 3, Bitcoin received $702 million more.
New Bitcoin ETFs have greatly increased Bitcoin’s investments. Steingraber wrote yesterday that one big reason XRP is not doing as well as Bitcoin in the market is because it’s not getting as much investment.
He believes that for XRP’s price to significantly increase, it needs to see investments of around $1 million, something Bitcoin has consistently achieved for many weeks.
What If XRP Recorded $500M Inflows Daily?
In a later post, Steingraber pointed out that BlackRock’s iShares Bitcoin Trust (IBIT) got about $500 million more money on February 13. BitMEX Research also shows that IBIT received about $493 million that day, which was its biggest one-day increase.
Steingraber suggested a made-up situation where XRP reached this value every day to explain how it might affect its market value and price movements.
If XRP gets $500 million more invested into it, its total value could go up by $5 billion. This is because of a rule from the Bank of America that says for every $1 invested, the value goes up by $10. This increase would make XRP’s total value much higher than its current $29.9 billion.
If XRP keeps getting this much money every day for a month, its total worth could rise to $179.9 billion. If the amount of XRP available doesn’t change much, this would make each XRP worth $3.3, which is a 500% jump from its present price of $0.5491.
This example shows how XRP could benefit if big companies like BlackRock started offering spot-based ETFs for it.
Many XRP supporters are asking why there isn’t a spot ETF for it in the US, especially since its legal status is clear.
Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.
