The expectation of an XRP price spike has seen a new push as the US shutdown nears an end, raising hope for eventual approval of the XRP ETF. This approval rate, which has hit over 90% hope since early September, is finally getting closer to becoming a reality.
Also, this approval is expected to drive new institutional inflows, sending the XRP price and market cap higher.
But while we are looking at Ripple becoming larger and more of an institutional asset, the Remittix token is quickly filling the void among retail traders. Here is the detail about what this XRP ETF could mean for price growth and the role of Remittix in this new development.
How The U.S Shutdown Has Affected The XRP Price Growth
There has been a slowdown in trading momentum for Ripple (XRP) over the last few weeks, as the US shutdown put a pin in hopes of an XRP ETF approval. This shutdown stems from a House division between Democratic and Republican senators over Healthcare, a debate that has now extended to 24 days. However, the end of the plenary on Thursday is giving hope of a conclusion as the recess resumes next week.
However, beyond the federal workers who will finally get a sigh of relief after a long non-payment, the crypto market is also about to get a new boost. This is because the pending issues related to XRP approval may finally be getting proper attention, especially those in the final lap.
The XRP price is on most investors’ and analysts’ minds right now, as different projections suggest an immediate spike as bullish sentiment returns. This returning bullish sentiment is expected to fuel new buying activity, which has been hard-paused since the XRP ETF sentiment paused earlier this month.
XRP Price Prediction As The ETF Approval Nears With End To The U.S Shutdown
Although the U. S shutdown has not been officially ended, analysts are already looking into what this could mean for the XRP price. The current projection is tipping the XRP price for a recovery beyond $3 as interest in a stronger market swells. However, this returning buying momentum could set the pace for an XRP price spike when the XRP ETF finally gets the go-ahead.
Furthermore, using the current technical setup as a basis for analysis, the XRP price is building momentum near the 200 EMA. But it only takes a trigger from a whale to boost the price, as retail traders pay close attention to the price reaction at this range.
Experts believe the long-awaited XRP price surge is getting closer, but an end to the US shutdown could be the catalyst that triggers it.
Why Remittix Is Getting More Nod As An XRP Replacement With Retail Traders
Retail traders have already shown support for the Remittix token, as the price jumped to $0.1166 on strong buying. According to on-chain data, the Remittix holder count has now exceeded 40,000, indicating a spike in new holders as support for this project grows.
One major factor driving the rise is that the Remittix token has the potential to replace XRP among retail traders. This is because its crypto payments to bank accounts in over 30 supported fiat currencies are a major catalyst for adoption.
Also, recent analysis shows the Remittix project could be the leading cross-border solution for retail traders as soon as XRP holds a position with institutional traders. However, this projection is already becoming a reality as the number of token holders continues to rise every day.
Expert Take
With the US shutdown finally drawing to a close, analysts are projecting an XRP price spike that could follow a return of the bullish sentiment. At the same time, the price explosion of the Ripple coin is drawing attention to the Remittix token for its low cap and potential to replace XRP with retail traders.
All hands are on deck as the US Senate resumes its recess next week and eyes are on the effect on XRP price as the ETF approval draws closer.
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