XRP Drops 4.89% Amid $10,000 Price Prediction, ETF Launch, SEC Battle

XRP's latest price was $2.16, down 4.892% in the last 24 hours. The cryptocurrency has been a subject of intense discussion and speculation within the financial community, particularly regarding its potential for significant price appreciation. Jake Claver, Managing Director at Digital Ascension Group, has renewed attention to a long-standing prediction in the XRP community: that the digital asset could eventually be valued at $10,000. Unlike previous speculative comments, Claver has now associated this projection with a specific timeframe, approximately two years. In a recently shared video on X, Claver outlined his argument for why a higher XRP price is essential for the network to efficiently support large-scale institutional transactions. His perspective builds on earlier technical insights from Ripple Chief Technology Officer David Schwartz, who once explained that the number of XRP tokens needed for a transaction is inversely proportional to the asset’s price. For example, transferring $1 million at a token value of $1 would require 1 million XRP. If the token were priced at $10, only 100,000 units would be needed for the same transaction. According to Claver, this relationship illustrates how increasing the token’s price could enhance the XRP Ledger’s transactional efficiency.

Claver further elaborated that at current prices, roughly $2 per token, XRP lacks the liquidity required to process transactions involving trillions of dollars. Based on his analysis, a valuation of $10,000 per token would provide the liquidity needed to handle institutional-scale transfers, implying a theoretical market cap of more than $500 trillion. Despite the astronomical figure, Claver maintains that such a valuation is technically necessary for XRP to fulfill its role in large-scale cross-border financial operations. He emphasized that the XRP Ledger’s design allows it to scale its liquidity capabilities in tandem with price increases, making the token more effective at higher valuations. Unsurprisingly, the claim has been met with significant criticism from various financial commentators. One major point of contention is the implication that XRP could achieve a total market capitalization vastly exceeding the size of the current global economy. Critics argue that this renders the prediction implausible, regardless of the underlying logic. Among the skeptics is Alex Caraco, former CEO of an Australian stock market firm, who questioned the practicality of such predictions. He expressed concern that retail investors may be misled by exaggerated price targets, especially those tied to short timelines. Others in the cryptocurrency space have echoed this sentiment, pointing out that even with the development of futures markets and institutional adoption, a $10,000 valuation within two years would require extraordinary demand and systemic changes in global finance. While Claver’s projection remains speculative, it reflects a broader discussion within the XRP community about the token’s long-term potential and the infrastructure required to support institutional-scale transactions.

Purpose Investments will launch Canada’s first spot XRP exchange-traded fund (ETF) on the Toronto Stock Exchange on June 18, offering investors regulated exposure to XRP in both CAD and USD. Purpose Investments Inc. has secured final approval from Canadian regulators to launch its Purpose XRP ETF, the country’s first spot ETF offering direct exposure to XRP, the native token of the XRP Ledger. Trading for the ETF will begin on Wednesday, June 18, 2025, on the Toronto Stock Exchange under the ticker XRPP. This ETF marks a milestone in the evolution of digital asset investment in Canada, giving investors a simple and regulated way to gain exposure to XRP, one of the world’s largest cryptocurrencies used primarily for fast, low-cost cross-border transactions. Vlad Tasevski, Chief Innovation Officer at Purpose Investments, stated that the granting of the Purpose XRP ETF reinforces Canada’s leadership in building a regulated digital asset ecosystem. With over $24 billion in assets under management, Purpose Investments continues its push to make digital assets accessible through transparent, regulated financial products. The ETF arrives amid growing demand for crypto-backed investment vehicles in traditional markets, further bridging the gap between digital finance and institutional-grade portfolios.

Ripple Labs has submitted a new supplemental letter to Judge Analisa Torres in the Southern District of New York, reinforcing its push to finalize a negotiated settlement with the U.S. Securities and Exchange Commission (SEC). This latest filing marks another step toward ending the long-running legal battle over XRP’s regulatory status. In the letter, Ripple joins the previously submitted joint motion with the SEC and provides further clarification to support the request for an indicative ruling. In the letter, Ripple makes clear that it is not asking the Court to overturn or revise the Summary Judgment Order issued in July 2023. That landmark ruling found that Ripple’s institutional XRP sales violated section 5 of the Securities Act of 1933. Ripple’s latest submission underscores its commitment to resolving the legal dispute and moving forward with a clear regulatory framework for XRP. The company has consistently maintained that XRP is not a security and has sought to demonstrate this through various legal arguments and technical analyses. The ongoing legal battle has been a significant factor in the cryptocurrency’s market dynamics, with investors closely monitoring developments for potential impacts on XRP’s regulatory status and future prospects. The resolution of this case could have far-reaching implications for the broader cryptocurrency industry, as it may set precedents for how digital assets are classified and regulated in the United States.