Steve McClurg, CEO of Canary Capital, has made a bold forecast: XRP’s price could surge to $12 if XRP exchange-traded funds (ETFs) attract $10 billion in net inflows during their first month. The projection revises his earlier $5 billion target and underscores growing confidence in XRP ETF products.
Bitcoin ETF Success as Benchmark
McClurg pointed to the historic launch of Bitcoin futures ETFs, which drew $1 billion on day one and ranked among the top 10 ETF debuts ever. He believes an XRP ETF achieving $10 billion in first-month inflows could similarly break into the all-time top 10, creating a massive price catalyst for XRP.
Analyst Multiplier Model
Previous analysis by analyst Dom suggested a 272x inflow-to-valuation multiplier. Even using a conservative 54.4x multiplier, a $10 billion inflow would increase XRP’s market capitalization by approximately $544 billion. With XRP’s current market cap around $18 billion, that would push the total to over $720 billion, aligning with a $12 price. McClurg noted that actual gains could be higher due to market sentiment and liquidity effects.
Market Implications & Risks
The CEO emphasized that the $12 target hinges on the ETF achieving the projected $10 billion inflow. If realized, the XRP ETF would rank among the most successful launches in history. However, crypto markets remain highly volatile and regulatory uncertainty persists. Reports show Goldman Sachs recently exited a $154 million XRP ETF position, indicating institutional caution. Meanwhile, progress on the CLARITY Act and upcoming U.S. CPI data could sway market sentiment. At press time, XRP traded at $2.45 (down 0.81% on the day), with Bitcoin and other majors also edging lower. Investors are urged to conduct their own research and assess risks before acting.