XRP ETF: Is This the End of the Drought for Ripple?

🤑 XRP ETF: Is This the End of the Drought for Ripple? 🤑

The wind was shiftin’ in the desert of crypto, and a dust cloud of hope was rising. Cboe, the cowboys of the exchange, had filed four applications with the SEC, lookin’ to herd XRP into the ETF corral. WisdomTree, Bitwise, 21Shares, and Canary were the wranglers, each tryin’ to tame the wild beast.

These applications, they were like a coyote’s howl in the night. Ripple, the underdog, had been bitten by the SEC, but a whiff of victory had stirred their spirits. Cboe, they were playin’ it smart, claimin’ XRP wasn’t a security anymore, not like those wild-eyed SEC folks were sayin’. 💰

The market was a tumbleweed in a dry wind, but these filings, they were a sprout in the dust. XRP, the fourth-largest critter in the herd, had lost some weight, but a glimmer of hope was sparkin’ in its eyes.

This 19b-4 thing, it was the ticket to the big rodeo. The SEC, they had 45 days to decide, but they could stretch that time like a rubber band, all the way to 240 days. “Don’t hold your breath,” whispered a wise old trader. “The SEC, they got a long memory and a short fuse.” 😠

Garlinghouse, the Ripple boss, was tappin’ his foot, countin’ down the days. He was throwin’ out alarm clocks, but nothin’ was guaranteed. Just like the tumbleweeds rollin’ across the dusty plain, the fate of XRP was still up in the air.

Unlike Bitcoin and Ethereum, XRP didn’t have a future market to lean on. It was like a lone rider on a dusty trail, but the wranglers had some tricks up their sleeves. They were lookin’ to buy XRP from the secondary markets, keepin’ it locked away like buried treasure, and even puttin’ in some brakes to stop the wild swings of the market.

At press time, XRP was still shufflin’ its hooves, worth $2.51 a head. But the dust was settl’in’, and a new day was dawning. The fate of XRP, it was still a mystery, but the possibility of a new sunrise was in the air.

2025-02-08 09:43

Read More