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XRPC ETF Debut Surpasses 2024 ETF Records, XRP Eyes $10 Target
Canary Capital’s spot XRP ETF (XRPC) officially began trading yesterday and recorded over $59 million in first-day trading volume, making it 2024’s most successful ETF launch. The product surpassed BSOL’s previous record with a performance that surprised analysts. Following this milestone, Canary Capital founder and CEO Steven McClurg discussed what the XRP ETF means for investors and evaluated realistic long-term price targets.
Why the XRP ETF Stands Apart
In an interview with Crypto Prime, McClurg emphasized that XRP occupies a different position than Bitcoin or Ethereum. The XRP Ledger operates as a payments-focused network designed for fast and low-cost value transfer.
McClurg explained the technology was developed to solve real-world remittance problems, including high fees charged by banks and services like Western Union. He noted that workers in many countries face fees between 8% and 15% when sending money home.
“This situation operates like a global tax on the working class,” McClurg stated, adding that the XRP Ledger offers near-instant settlement and much cheaper transfers. These features position the platform as a strong candidate for global payment infrastructure.
XRP’s practical use case serves as an important differentiator for ETF investors. Unlike other crypto assets, XRP has a tangible financial infrastructure solution behind it, which could amplify institutional interest.
Are $10, $35, or $1,000 Targets Realistic?
When asked about price predictions circulating in the community, McClurg issued warnings about extreme values like $1,000 or $10,000, calling them “very high numbers.” XRP reaching Bitcoin’s current $2 trillion market cap would translate to approximately $35 per token.
However, such a move requires enormous global adoption, and McClurg suggested this isn’t an easily achievable scenario. That said, he clearly stated the $10 target is not unrealistic.
“Given XRP’s current ecosystem and its role in global payments, I don’t think $10 is unrealistic at all. That is something achievable in the next three to four years,” McClurg said, offering the community a hopeful yet measured perspective.
This assessment presents a fundamentals-based approach that differs from exaggerated price predictions often seen on social media. Considering McClurg’s experience and role in the ETF launch, this view serves as an important reference point for market participants.
ETF Demand Could Serve as Catalyst
XRPC’s record-breaking volume and its performance beating all other 2024 ETF launches indicate demand is exceeding expectations. Analysts view this intense first-day interest as a positive signal for XRP.
McClurg says the ETF structure will help mainstream investors understand XRP’s real-world utility and potentially accelerate adoption. As more institutions gain exposure to XRP through regulated products, he expects interest and liquidity to increase steadily.
The ETF format serves as a bridge for traditional investors who don’t want to invest directly in crypto assets but wish to benefit from opportunities in this space. This significantly increases XRP’s accessibility.
First-day volume surpassing BSOL’s previous record concretely demonstrates the market’s confidence in the XRP ETF. This success could pave the way for similar products launching in coming periods.
Institutional Interest Signals Growth
The ETF launch’s success provides strong indication that institutional investors’ interest in XRP is growing. The existence of a regulated investment vehicle makes it easier for large funds that were previously hesitant due to regulatory uncertainty to enter the market.
As McClurg emphasized, XRP’s practical use case and potential in payment infrastructure present an attractive value proposition for institutional participants. These factors represent fundamental dynamics that could support the token’s long-term value appreciation.
How demand for the ETF evolves in coming months and how this affects XRP’s price will be closely monitored. For now, the community is celebrating both the successful ETF debut and McClurg’s confirmation that double-digit XRP is a realistic possibility, not a fantasy.
Whether XRP reaches the $10 target appears dependent on its adoption rate in global payment systems and the amount of institutional capital flowing through the ETF. The combination of record-breaking launch volume and McClurg’s measured optimism suggests the token’s journey toward higher valuations may have substantial backing, though significant challenges and market variables remain ahead.
