Wall Street Believes XRP Could Be the Next Bitcoin: Here’s Why

TheCryptoBasic on X reported that Cambridge analyst Bradley Peak described XRP as Wall Street’s “dark horse,” noting that funds are increasingly considering it the next Bitcoin.

His reasoning draws on both institutional interest and regulatory developments that could reshape the Ripple token’s role in global finance.

According to the analyst, Bitcoin and Ethereum ETFs have already attracted billions from institutional investors, and Peak argues that XRP is now moving into that spotlight. Seven XRP ETF applications are under SEC review, with decisions expected in mid-October

Applicants include major firms such as Bitwise, Grayscale, 21Shares, WisdomTree, Canary Capital, Franklin Templeton, and CoinShares, who collectively oversee more than $1.7 trillion. This wave of filings shows growing demand for regulated exposure to XRP

If approved, these ETFs could have a direct effect on XRP price by creating new channels for investment. Canary Capital projects that demand could reach $5 billion within the first weeks of trading, while JPMorgan estimates annual inflows near $8 billion.

Ripple’s Bank Charter and Its Effect on Ripple Token

Bradley Peak mentioned that Ripple is waiting for a decision on its U.S. national bank charter this October, the same time as the ETF rulings. Approval would let Ripple operate as a regulated financial utility

That could give the Ripple token more credibility in traditional finance. If both the ETF and bank license go through, it could be a major turning point for Ripple price and long-term adoption.

CME data notes how momentum is already building. In August, CME reported that XRP futures surpassed $1 billion in open interest faster than any other crypto derivatives contract

By September, CoinGlass recorded XRP futures topping $1.25 billion. Peak believes this shows how XRP is transitioning from a speculative asset into a structured product for institutional use, similar to the path Bitcoin once took.

While enthusiasm is growing, not every firm is on board. BlackRock has publicly ruled out pursuing an XRP ETF for now, pointing to limited client demand

Robbie Mitchnick, Head of Digital Assets at BlackRock, explained that any new crypto ETF must align with customer interest, liquidity, and maturity. His statement shows that not all institutions are convinced that Ripple token is ready to take on the same role Bitcoin and Ethereum now hold.

What Whale Activity Suggests About XRP

Data from Santiment indicates that large holders are positioning themselves ahead of the October decisions. Wallets holding between 10 million and 100 million XRP tokens added 340 million tokens over the last two weeks, bringing their collective holdings to nearly 8 billion XRP worth more than $20 billion.

This level of accumulation suggests strategic bets on the possibility that Ripple price could break out if the ETF and bank charter approvals go through.

Read Also: Zcash (ZEC) Price Explodes: What’s Driving the Privacy Coin’s Massive Rally

October is shaping up as a pivotal month. If ETFs win approval and Ripple secures its bank charter, XRP could transition from being viewed as a utility token into a mainstream financial asset with Wall Street backing. On the other hand, rejection on both fronts may keep XRP price stuck in its current range.

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The post Wall Street Believes XRP Could Be the Next Bitcoin: Here’s Why appeared first on CaptainAltcoin.