Here’s XRP Price if XRP ETFs Attract $10B in First Month

The XRP price could soar to new all-time highs if the Canary Capital CEO’s updated first-month target for XRP ETFs plays out.

Several major firms, including Grayscale, Canary Capital, 21Shares, and Bitwise, are now awaiting approval of their XRP ETF filings this month, October. Amid the anticipation, Canary Capital CEO Steve McClurg has updated his outlook, saying he now expects stronger performance than he first predicted.

Canary Capital CEO Updates XRP ETFs Target

McClurg had earlier projected that XRP ETFs would attract around $5 billion in inflows during their first month. However, during a recent interview on the Paul Barron Network, he said he now believes that forecast might have been “bearish.”

The Canary Capital CEO called the $10 billion target a safe bet. He highlighted his past experience launching Bitcoin futures with another firm, recalling that they brought in over $1 billion on their first day, which made them one of the top 10 ETF launches in history at the time.

XRP Price if This Plays Out

Notably, if XRP ETFs do manage to attract $10 billion in their first month, the impact on prices could be massive. This is due to the inflow-to-valuation multiplier. For the uninitiated, this is an effect where every dollar entering the market increases XRP’s market cap by a much larger amount

Interestingly, market analyst Dom highlighted this in May when he found that just $61 million in inflows lifted XRP’s market cap by $16.6 billion. Remarkably, this translated to a ratio of roughly 272x.

For this analysis, even a fraction of that multiplier, say one-fifth, or 54.4 times, still suggests massive potential gains for the XRP price

Using this estimate, $10 billion in ETF inflows could raise XRP’s market cap by around $544 billion. Currently, XRP has a market cap of about $180 billion and a trading price near $3. Considering this, an increase of $544 billion could push XRP’s valuation to roughly $724 billion.

Now, with a circulating supply of around 60 billion tokens, this $724 billion market cap would translate to a price of roughly $12 per XRP within the first month of ETF trading

Although this projection relies on an ambitious inflow target, the 54.4x multiplier is actually very modest. Typically, XRP sees multipliers well into the hundreds during normal trading conditions. As a result, if the ETFs attract the level of attention McClurg expects, the XRP price could see one of the biggest surges in its history.