Canary Capital CEO Steven McClurg offered a detailed macro-driven forecast for Bitcoin, XRP, and Ethereum, tying price action directly to inflation, rising yields, and the upcoming US midterm elections. Speaking in a recent interview, McClurg stated a Bitcoin pullback to the $65,000 range this summer is “not entirely shocking,” while a recovery above $90,000 by year-end is also plausible — but likely only after the elections.
“I still believe the summer is going to be tough given uncertainty around midterms,” McClurg said, citing high inflation, the 10-year and 30-year yield environment, and the potential for a recession as headwinds that historically pull institutional attention away from risk assets like crypto. He described the setup as a risk-asset repricing triggered by simultaneous political uncertainty and macro tightening, not a crypto-specific event.
For altcoins, McClurg separated the field: Ethereum and XRP were named as likely performers, while he voiced concern over distribution problems for networks like Sui. His XRP outlook was particularly concrete, projecting a doubling in price from around $1.40 to above $2.80 by December, supported by $1.39 billion in cumulative ETF inflows and an expected 30% inflow increase by year-end. He attributed this post-election surge to the CLARITY Act, tokenized real-world assets (RWA), and renewed institutional inflows into XRP ETFs.
McClurg’s roadmap points to a summer accumulation window for Bitcoin between $65,000 and $67,000, with the midterms acting as the pivot from “pain” to recovery. Wealth, he argued, is built “right at the cusp when everybody has lost hope.” His framework implies a significant post-midterm capital rotation that could lift Bitcoin to $80,000–$90,000 and push XRP to new highs.
