The XRP price could be on the verge of a significant move, according to stock exchange expert Oliver Michel. Michel points out that XRP is waiting for a catalyst, and the right event could push it much higher. Demand for the digital asset is already building, and if market conditions align, Michel believes the token could reach a new peak in the near term.
Price Could See Key Trigger From Spot XRP ETFs In October
According to his market study, Oliver Michel, CEO of Tokentus, highlights that the most significant spark for the XRP price could be the approval of spot XRP ETFs. He notes that more than seven applications are now waiting for SEC decisions, with deadlines falling between October 18 and 25. If the SEC approves these ETFs, Michel believes they would bring real demand into the market and set the XRP price up for an intense climb.
He recalls that the rollout of Bitcoin and Ethereum ETFs in the past brought a surge of activity and greater attention to the market. In his view, similar approval for XRP would not only confirm rising demand but also draw in a new wave of investors. Current signs already indicate growing interest, as XRP futures at the CME Group reached $1 billion in open interest in just over three months, making it the fastest crypto contract on CME to reach that milestone.
Beyond futures, funds tied to XRP are also seeing heavy inflows. Michel emphasizes that futures-based XRP ETFs have already attracted over $800 million in assets. For him, the next step is Spot ETFs, which bring stronger direct demand. If XRP begins to rally in October, Michel believes these ETFs could quickly fuel the move and lift prices even higher.
XRP Price Consolidation Signals A Decisive Breakout Ahead
From the Frankfurt Stock Exchange floor, Michel observes that XRP is trading around $2.97, consolidating below its recent swing high of $3.66. He explains that the token will need the broader market to build momentum as it is unlikely to climb on its own. Michel notes that while Bitcoin still has potential, altcoins like XRP and Ethereum could see much larger gains. He believes altcoins could rise as much as 300%, while Bitcoin might only see increases of around 30%.
Michel emphasizes that XRP is approaching a decisive moment. If spot ETFs are approved, the token could experience a strong upside move. He joins other analysts predicting a new peak for the XRP price, with popular year-end expectations above $10. Michel says growing demand and shifting market momentum could push the altcoin higher. He explains that XRP’s current consolidation shows it is waiting for a catalyst to break higher. He says October could be the time when the XRP price finally makes a strong rally.
Featured image from DALL.E, chart from TradingView.com
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