As a seasoned researcher with over two decades of experience in the financial industry, I have witnessed firsthand the profound impact that regulatory clarity and ETF launches can have on cryptocurrencies. The recent settlement between Ripple Labs and the SEC has provided much-needed legal certainty for XRP, potentially paving the way for an XRP ETF.
After the introduction of Spot Bitcoin Exchange-Traded Funds (ETFs), Bitcoin’s price soared to unprecedented new record highs. This raises speculation about whether the possible debut of an XRP ETF might push the cryptocurrency’s price up to a $20 all-time peak as well.
Ripple Settlement Could Spark An XRP ETF
The lengthy court dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), spanning nearly four years, is nearing its end as the court has directed Ripple to pay a $125 million civil fine to settle the case with the SEC. Although Judge Analisa Torres has determined that XRP does not fall under the category of securities, this ruling has also brought much-desired legal clarity for XRP and the entire crypto industry.
Solving Ripple’s regulatory issues opens up a possibility for an XRP-based Exchange Traded Fund (ETF). Kashif Raza, founder of Bitnning, shares positive anticipation about potential future XRP ETF filings.
In a recent post on X (previously known as Twitter), Raza revealed that the sale of XRP to institutional investors contravenes securities regulations, but selling it to individual investors does not break any laws. The founder of Bitnning interprets this distinction as a beneficial step forward for the XRP community.
As a researcher delving into the realm of digital currencies, I find myself aligning with the anticipation shared by crypto enthusiasts like Amelie. She believes that Ripple’s recent regulatory clarity could pave the way for an XRP Exchange Traded Fund (ETF) within the next few years, possibly between 2024 and 2025. Furthermore, I also follow the insights of crypto analyst Tony Edward. His prediction is that the likelihood of an XRP ETF has significantly increased.
Regardless of Ripple’s recent court win, Edward indicated that the XRP market isn’t showing a positive trend at the moment. Yet, an analyst suggests that XRP could soon experience a bullish surge as the market develops. He underscored the idea that if XRP manages to regain its bullish energy, it would be liberated from the shadows of litigation and legal battles.
Could An ETF Send XRP Price To $20?
After a court decision declared that XRP is not classified as a security and the subsequent surge in its value, the cryptocurrency’s price climbed over 25%, reaching beyond $0.6 and approaching $0.7. This legal verdict has sparked speculation about the possibility of an XRP Exchange-Traded Fund (ETF), which could potentially increase XRP’s worth substantially.
As an analyst, I find it plausible that the launch of an Exchange-Traded Fund (ETF) for Ripple (XRP) could potentially drive its price upwards. Similar to those expressing bullish sentiments, I set a more modest, bullish target for XRP, predicting it may reach between $4 and $8 if an ETF is indeed launched.
Instead, Brett Hill, crypto analyst and representative of BitTrue, views a predicted range of $4 to $10 for XRP as overly conservative. He instead offers a more optimistic forecast for XRP, anticipating that it could surge to between $18 to $20 within the upcoming one to six months.
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2024-08-10 01:11