Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Analyst Austin Hilton has sounded a major XRP warning even as the price continues to consolidate. He declared that this is the last chance to get into the altcoin before its pricegoes on a parabolic run. Last Chance To Get In On XRP Before Its Q4 Bull Run
In a YouTube video, Austin Hilton warned that this is the last chance for investors to accumulate XRP before its major bull run in the last quarter of this year. He noted that September was expected to be a slow month with little action from the altcoin, especially as investors wait on a Fed rate cut. Related Reading Analyst Sounds Major XRP Warning: Last Chance To Get In As Accumulation Balloons 4 hours ago
The analyst further remarked that the altcoin has even outperformed expectations this month, considering that it was able to reclaim the psychological $3 leveland has held well above support levels. However, Austin Hilton predicts that a greater run lies ahead for the altcoin, with liquidity set to return in the fourth quarter from both retail and institutional investors.
Another bullish fundamental he alluded to is the fact that XRP is being taken off exchanges, which indicates that crypto whales are actively accumulating the token. This could lead to a supply shock, which could serve as a catalyst for higher prices. Bitcoinist reported that Coinbase’s reserveshave crashed by 90% as whales move tokens off the exchange to hold for the long term.
Meanwhile, four major crypto exchanges, including Binance, saw massive demandearlier in the month, leading them to add 1.2 million coins to meet this demand. The CryptoQuant analysis that pointed this out noted that the demand might have been coordinated and might have come from institutions. This comes ahead of the potential XRP ETFs launch, which is bullish for the altcoin’s price. Institutions Set To Flow Into The Altcoin With ETF Launch
Institutions are set to inject new capital into the ecosystem with the launch of the first spot XRP ETF, which is happening this week. REX Shares confirmedthat its REX-Osprey XRP ETF (XRPR) is coming this week. It noted that this will be the first U.S. ETF to deliver investors spot exposure to XRP. Related Reading Analyst Sounds Major XRP Warning: Last Chance To Get In As Accumulation Balloons 4 hours ago
Bloomberg analyst James Seyffart statedthat the REX-Osprey XRP ETF isn’t a “pure” spot ETF. He explained that it will hold spot directly and other spot XRP ETFs from around the world to get its exposure. The analyst also noted that the fund’s prospectus includes language that would allow it to invest in derivatives for exposure if needed. However, that won’t be the primary exposure method.
The spot XRP ETFs could get a SEC approvalin October, which is another factor that could serve as a catalyst for higher prices for the cryptocurrency heading into the fourth quarter. Seven fund issuers are currently awaiting the SEC’s approval to offer a 100% spot XRP ETF.
At the time of writing, the XRP price is trading at around $2.97, down over 2% in the last 24 hours, according to datafrom CoinMarketCap. XRP trading at $3.04 on the 1D chart | Source: XRPUSDT onTradingview.com Featured image from Adobe Stock, chart from Tradingview.com