XRP Price Forecast: Grayscale to Launch XRP Trust

XRP (XRP) price forecasts are becoming more bullish in wake of an announcement by crypto asset manager Grayscale that they will be launching an XRP Trust investment product that could eventually be converted into an XRP ETF.

The XRP price subsequently jumped, and was last up 5% on Thursday in the $56 area, per TradingView.

That makes it one of the best performing major coins today.

But profit-taking has seen the XRP price drop over 4% from earlier session highs near $0.59.

This isn’t the first time Grayscale has offered an XRP Trust investment product.

The digital asset manager had to shut down their prior trust in 2021 due to the SEC’s lawsuit against Ripple Labs that accused the firm of selling XRP as an unregistered security.

But that lawsuit is now wrapped up, with Ripple paying a $200 million settlement to the SEC earlier this year.

Regulatory clarity relating to XRP has opened the door for US exchanges to begin offering the asset again, and for firms like Grayscale to offer new XRP products.

Its unsurprising then that XRP price forecasts have become substantially more bullish.

XRP Price Forecast – Where is XRP Headed Next?

XRP fundamentals are improving. The Ripple/SEC settlement earlier this year has opened the door to accelerated institutional adoption of the crypto.

An XRP Trust product offered by industry leading crypto asset manager Grayscale will only accelerate this adoption.

Similar investment products offered by Grayscale for Bitcoin and Ethereum have been blockbuster successes over the years, and both successfully converted to ETFs this year.

But XRP remains hobbled by a lack of conviction in the broader crypto market.

US Presidential election uncertainty, as well as uncertainty about a possible recession has weighed on the market in recent weeks.

Most major coins, XRP included, remain locked within multi-month ranges.

But the Fed is on the cusp of a new rate cutting cycle. So even if the near-term outlook is rocky, better liquidity conditions in 2025 and beyond should be a major tailwind for crypto assets like XRP.

For now, the XRP price remains stuck within a medium-term pennant structure.

Bull will hoping for a near-term upside breakout that would open the door to a retest of yearly highs near $0.75.

Ultimately, XRP could nearly 2x from current levels and return to $1 as the crypto bull market matures in the coming years.

But, thanks to a comparatively weak adoption story versus the likes of Bitcoin and Ethereum, it may lag other major coins.

As a result, it might not be the best crypto to buy now.

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