BlackRock's ETF Filing Speculations Gain Traction, Sending XRP Price Soaring 6%

The XRP community is abuzz with speculation following a recent statement from ETF Store President Nate Geraci. In a recent X post, Geraci suggested that BlackRock may file for both Solana and XRP ETFs in the near future.

A recent statement from ETF Store President Nate Geraci has sparked speculation within the XRP community regarding the possibility of leading asset manager BlackRock filing for an ETF for Solana and XRP.

In a post on X, formerly known as Twitter, Geraci suggested that BlackRock may soon apply for ETFs for both Solana and XRP. He pointed out that the giant asset manager, which currently holds the largest Bitcoin and Ethereum ETF assets, is unlikely to let competitors take the lead on two of the top five non-stablecoin crypto assets.

“BlackRock will file for both Solana and XRP ETFs. Solana could be any day. Think xrp once the s e c lawsuit concluded. I simply don’t see them allowing competitors to come in & launch ETFs on 2 of the top 5 non-stablecoin crypto assets w/out any sort of fight,” Geraci stated.

However, it is important to note that Geraci's post has been edited for clarity and may not reflect the original content precisely.

As speculation over a potential XRP ETF heats up, a recent analysis suggests that the cryptocurrency could be en route to a $15 price point in the coming days.

According to crypto analyst Rose Premium Channels, XRP's key support levels lie at $2.1 and $2.2, while its next targets are set at $3, $4.2, and ultimately $5.

With the potential ETF filing and the broader crypto market recovery, traders are anticipating a strong upward trend for XRP. Some analysts are even projecting a triple-digit long-term target for the asset, which could be reached if the ETF materializes and market conditions remain supportive.

In other news, renowned crypto expert Ben Armstrong, also known as "The Chart Guys," has shared a bullish forecast for XRP, hinting towards a new all-time high ahead.

According to Armstrong's analysis, XRP is showing signs of a continuation pattern, which could propel the asset to new highs. However, he cautions that if the price drops below the $2 support level, it could indicate a potential reversal of the current uptrend.

"If we get out of this continuation pattern, and we start heading back down towards that $2 level, and we break below it, then I think you'll start to see a reversal of the trend."

However, if XRP manages to stay above the $2 support and clear the $3 resistance, it could pave the way for a rally to $5, potentially setting the stage for a new all-time high.

"If we can hold that $2 level and we break above $3, I think you'll start to see a move towards $5, which could set up a new all-time high for XRP."

As the dust settles on the S e c lawsuit and major institutional players like BlackRock enter the fray, the stage is set for an exciting and volatile period in the XRP market.

This article is not financial advice and does not necessarily reflect the views and opinions expressed by the authors and may not be a suitable investment strategy for all readers. Please invest responsibly.