Canary Capital’s spot XRP ETF (XRPC) formally launched yesterday and it’s already the largest ETF debut of the yr. The product surpassed $BSOL’s earlier file, posting greater than $59 million in first-day buying and selling quantity, in keeping with analysts monitoring the launch.
Talking after the milestone, Canary Capital Founder and CEO Steven McClurg mentioned what the XRP ETF means for buyers, how demand could evolve, and what practical long-term worth targets appear like.
Why the XRP ETF Is Totally different
In an interview with Crypto Prime, McClurg defined that XRP shouldn’t be like Bitcoin or Ethereum. As an alternative, the XRP Ledger is a payments-focused community designed as a monetary rail for quick, low-cost worth switch.
He defined that the expertise was constructed to resolve real-world remittance issues, together with excessive charges charged by banks and companies like Western Union. In lots of international locations, employees sending cash dwelling face charges between 8% and 15%, which McClurg described as a “world tax on the working class.”
The XRP Ledger, he mentioned, affords near-instant settlement and less expensive transfers, making it a powerful candidate for world fee infrastructure.
Can XRP Attain $10, $35, or Even $1,000?
When requested about worth projections circulating in the neighborhood, together with predictions of $1,000 and even $10,000 per XRP, McClurg issued a warning, calling these excessive values “very excessive numbers.”
XRP reaching Bitcoin’s present market cap of round $2 trillion would indicate a worth close to $35, however such a transfer would require huge world adoption.
Nonetheless, he was clear that $10 shouldn’t be unrealistic.
“Given XRP’s present ecosystem and its position in world funds, I don’t suppose $10 is unrealistic in any respect. That’s one thing achievable within the subsequent three to 4 years,” McClurg mentioned. “
ETF Demand May Be the Catalyst
With XRPC posting record-breaking quantity and beating all different ETF launches of 2024, analysts say demand is already exceeding expectations. McClurg says the ETF construction will assist mainstream buyers perceive XRP’s real-world utility and probably speed up adoption.
As extra establishments achieve publicity to XRP via regulated merchandise, he expects curiosity and liquidity to steadily improve.
For now, the group is celebrating each the profitable ETF debut and McClurg’s affirmation that double-digit XRP is a practical chance, not a fantasy.
