A bullish outlook that XRP could climb to $8 appeared on Fidelity Investments' website, drawing growing attention from the XRP community.

On June 23, blockchain outlet The Crypto Basic reported that the outlook was not Fidelity's own investment research but content from an external cryptocurrency news feed carried on Fidelity's platform.

The content cited spot XRP exchange-traded fund (ETF) inflows and a favourable U.S. regulatory environment as key conditions for a rise in XRP. Standard Chartered also forecast that XRP could reach $8 if a spot XRP ETF draws meaningful investment demand and U.S. regulation becomes more favourable to digital assets, further spreading the outlook.

Price forecasts based on technical analysis were also mentioned. TradingView analysts expected XRP to rise to $3.30 and $8.50 after breaking upward from a long-term symmetrical triangle pattern. The content also included a longer-term model that pointed to $12.04 in the medium term and, assuming ETF adoption, as high as $26 in 2030.

The content spread quickly among XRP supporters. An X user named Tom said, "Standard Chartered and Fidelity are both pointing to an $8 target for XRP," and claimed XRP had broken out of a nine-year range and completed a retest. He also said XRP could reach the $8 to $10 range before year-end.

Moves by large holders were also cited as a bullish factor. The content said wallets holding at least 1 million XRP accumulated an additional 1.53 billion XRP over the past six months and now control about 74.1 percent of circulating supply. It added that the figures were not Fidelity internal data but were based on an earlier report by on-chain analytics firm Santiment.

The earlier report linked to Santiment data said the number of wallets holding more than 10 million XRP reached an eight-year high. At the time, those wallets held 45.83 billion XRP, about 74 percent of total supply.

Fidelity has not directly entered the spot XRP ETF market. Fidelity is currently running its digital asset business through the Fidelity Wise Origin Bitcoin Fund (FBTC), which is the second-largest U.S. spot bitcoin ETF and manages $11 billion worth of bitcoin.

By contrast, the spot XRP ETF race is being led by other asset managers. Bitwise, Canary Capital, Franklin Templeton, 21Shares and Grayscale have launched spot XRP ETF products.

Ultimately, the core of the issue is that a bullish XRP outlook was displayed on Fidelity's website and that the source was not internal to Fidelity. Exposure on Fidelity's platform alone has raised expectations among XRP supporters, but some point to the need for caution because both the price forecasts and the on-chain figures in the content reflect judgments by external analysts and research firms.