A crypto expert predicted that the Franklin Templeton XRP ETF could see up to $30 million in trading volume once it was launched. The fund is scheduled to go live today given that the NYSE cleared it for trading last week.
Expert Sees Massive Launch Volume for Franklin Templeton XRP ETF
Crypto expert Chad Steingraber shared in an X post that he expects trading activity to reach the equivalent of 15 million XRP on day one. This is around $30 million in volume. He also added another bold projection that pointed toward as much as 50 million XRP.
Steingraber mentioned that the firm usually introduces new products carefully. He also said that real growth will happen slowly as financial advisors start to recommend the product once it has a performance history.
He also noted that the ETF will launch with a small initial investment. This in essence means that most of the activity during the first day should be net inflows from investors.
The launch was confirmed after NYSE Arca approved the listing and informed the SEC. The Franklin XRP Trust will trade under the name XRPZ and will have a sponsor fee of 0.19% of its NAV. This fee will be waived for the first $5 billion in assets until May 2026.
Source: SECThe fund joins Canary Capital and Bitwise Asset Management which both launched their spot XRP ETFs earlier this month. Franklin Templeton submitted an S-1 amendment on November 4 which started the 20-day countdown for the launch.
Meanwhile, the already existing XRP ETFs by Bitwise and Canary have attracted net inflows for six days running. They have accumulated more than $422 million, according to SoSoValue.
Source: SoSoValueExperts Signal Potential XRP Upside
There have been more bullish claims for the next price moves of the token ever since the new XRP ETF came to light. Forbes recently said in an analysis that the token could reach $5.25 by 2030.
Also, crypto expert Egrag Crypto noted that even with the recent crash in the market the token is still trading above monthly support levels.
Source: XMeanwhile, a Ripple dev said staking could be added to the XRP Ledger. He stated that the coin already supports both payments and tokenization. So doing this is very much possible.
The crypto market has started recovering from its recent crash. Bitcoin is now trading above $85,000 which basically put most altcoins back in the green.
Source: https://coingape.com/expert-projects-30m-volume-for-franklin-templeton-xrp-etf-as-trading-begins-today/
