Recently, some analysts have been discussing that if a major asset management company applies for an XRP exchange-traded fund, this coin could surge by 100%. It sounds very tempting, but I think we should view it rationally.

Honestly, XRP has attracted quite a bit of attention lately due to the resolution of regulatory issues. The previous legal disputes have basically been settled, and now being recognized as a digital commodity is a significant turning point for ETF applications. If institutional investors do step in, it could indeed trigger a rally.

At the current price of $1.29, doubling would be around $2.58, still below last year's high of $3.65. But the key point is, if large institutional buying actually occurs, the circulating supply of XRP on the market could become tight, and even small capital inflows might cause significant volatility.

However, I have to say, all of this is still speculation. Until we see official application documents in the U.S. Securities and Exchange Commission's system, everything remains just market expectations. There was fake ETF news last year that manipulated the price, so caution is necessary. Overall economic conditions and interest rate changes also influence the market, so we can't just look at XRP itself.

In summary, institutional validation could indeed be the next catalyst, but when it will happen and how strong the impact will be is still uncertain.