The prospect of new millionaires emerging from the XRP Army as early as October is gaining renewed traction in the community.
Notably, those supporting this view are banking on key events involving XRP to occur next month. In a tweet this week, XRP commentator Kenny Nguyen said “many XRP millionaires will be born in October” once spot XRP ETFs gain approval and begin trading.
His view reflects a popular optimism within the community. Influencer CryptoBull also recently suggested that September may remain quiet for XRP, but that “fireworks” are coming in October.
Grayscale leads with a deadline of October 18, seeking to convert its $500 million XRP Trust into a spot ETF. Analysts forecast combined inflows of up to $8 billion in the first year. They expect Grayscale and Franklin Templeton alone to pull in $1 billion each.
Bloomberg estimates the odds of approval by year-end at 90-95% amid the SEC’s recent regulatory shift and Ripple’s legal victory. If approved, trading could begin within 24-48 hours, mirroring the rapid launches of Bitcoin ETFs.
Frankfurt Analysis: XRP Ready for Breakout
Oliver Michel, CEO of Tokentus Investment AG, reinforced this outlook from the floor of the Frankfurt Stock Exchange. He emphasized that while Bitcoin may continue to rise, the most significant upside lies with altcoins like XRP. Michel sees potential gains of up to 300% for top altcoins, compared to Bitcoin’s more modest upside.
According to him, XRP, currently consolidating near $3, is waiting for a catalyst. He noted that the approval of spot ETFs could provide the spark, mirroring Bitcoin’s explosive growth following ETF approvals earlier this year.
In addition, CME Group’s XRP futures recently surpassed $1 billion in open interest in just over three months. Meanwhile, futures XRP ETFs already hold more than $800 million in assets.
Analysts believe the introduction of spot products would bring fresh institutional demand, potentially accelerating XRP’s rally.
However, community forecasts vary widely, with some predicting XRP above $10 by year-end, while others, such as Zach Recor, project prices as high as $30 by 2026.
If October brings the approvals many expect, Nguyen’s prediction of new “XRP millionaires” may not be far-fetched.
But Who Will Become a Millionaire in October?
Nonetheless, those with the best chance of becoming millionaires may already be holding significant XRP positions.
To put things in perspective, holders of 100,000 XRP tokens (currently worth around $300,000) would become millionaires if the token soared to $10 next month.
According to the XRP Rich List, only 34,839 accounts hold 95,000 XRP or more. In contrast, over 5.5 million retail investors hold between 20 and 500 XRP.
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