Ripple’s CEO, Brad Garlinghouse, stated in a Bloomberg interview that he is confident XRP will be included in the White House’s crypto stockpile. Garlinghouse also stressed that the US Securities and Exchange Commission (SEC) could approve XRP ETFs by the year’s end.
Garlinghouse said that XRP ETFs are “inevitable.” The SEC has over 11 pending applications, which include those from Franklin Templeton, Bitwise, and Canary, among others. The SEC had delayed Franklin Templeton’s application until November this year.
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XRP Will Make It to White House Crypto Stockpile, ETFs To Be Approved Soon
Garlinghouse’s statements come when Ripple is becoming a powerhouse in the global fintech sector. If XRP makes it to the White House crypto stockpile and if the SEC approves the ETFs, the altcoin could surge in the charts. It would receive an influx of institutional funds worth billions of dollars.
Bitcoin’s price also rallied hard after the SEC approved the BTC ETF, which eventually took it above $100,000. XRP surged by nearly 3% on Thursday, reaching a daily high of $3.10. The leading altcoin is consolidating in price and could experience a leg-up in the indices.
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It is advised to buy the dips on XRP below the $3 level before the SEC approves the ETFs. Taking an entry position now could prove beneficial as the altcoin could rally after the approval. In addition, if the White House announces the token as part of the crypto stockpile, its value could skyrocket.
Chances remain high that XRP could breach its all-time high of $3.65 if the SEC approves the ETFs. However, if the department rejects the applications, the flipside would be much harder to digest. Its price could fall below the $3 mark and also head south towards $2.5 and below. The risk-to-reward ratio here is equal, and only those who can afford to lose can take an entry position.