Prominent cryptocurrency analyst Gordon has ruffled a lot of feathers by indicating that the $9 trillion-dollar asset manager BlackRock is considering investing in Ripple’s native token XRP. He revealed insights from a conversation with a friend at BlackRock that high-net-worth individuals worth $50 million or more are increasingly interested in taking entry positions in cryptocurrencies, especially XRP, among others.
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The post also hinted that the trillion-dollar asset manager BlackRock could soon announce its interest in Ripple’s XRP. However, these are speculations only, as the leading investment manager has not made an official confirmation. The details remain sparse, with no verified information about the development. Nonetheless, speculation has been doing the rounds on social media with high confidence that a deal could break through.
Ripple: XRP’s Price If BlackRock Invests in the Leading Cryptocurrency
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Ripple’s XRP is hovering around the $2.2 mark on Thursday and is up nearly 15% in the last 30 days. If BlackRock decides to invest in XRP, the altcoin’s price would surge dramatically. The asset management firm would unleash an influx of funds into the altcoin, making its price soar in the charts.
Bitcoin was trading at the $60,000 mark before the SEC approved the BTC ETFs early last year. If a similar trend kicks off, XRP’s price could hit new highs and also breach its all-time high of $3.40 if BlackRock invests in it. While there is no doubt that institutional clients are seeking cryptocurrency exposure, there is no official word about their interest.
The cryptocurrency market has sustainably surged this year as Bitcoin touched $99,000 on Thursday. The chances of climbing above the $100,000 mark remain high, indicating that the markets are in the right direction. BlackRock and other institutional clients have made stellar profits with Bitcoin ETF and could continue under XRP if they invest.
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