As the long-standing legal saga between SEC and Ripple $2 nears its conclusion, XRP investors are reignited with hope. With Ripple’s recent net payment of approximately $50 million, expectations for an XRP exchange-traded fund (ETF) have come to the forefront. Improvements in regulations and potential waves of investment are being closely monitored. The statements from Ripple’s CEO have further strengthened these ETF expectations.
XRP ETF on the Table: Insights from Garlinghouse
Ripple CEO Brad Garlinghouse expressed a positive outlook on the possibility of an XRP ETF in an interview with Bloomberg. He indicated that a fund could make sense for the XRP community. This remark has sparked renewed enthusiasm among investors.
An XRP ETF is seen as a development that could attract both institutional and individual investors. Experts believe that an approved XRP ETF could lead to significant capital influx into the market. Crypto.com CEO Kris Marszalek even suggested that investments could soar to $8 billion following ETF approval.
New Developments in the Ripple-SEC Case
Ripple has reached a significant turning point in its legal battle with the SEC. Initially facing a $125 million penalty, the company successfully appealed to recover $75 million of that amount. Currently, Ripple’s net payment figure has decreased to about $50 million.
This development has been interpreted as an indicator that the case is nearing its final stages. Market participants foresee that reduced regulatory uncertainties will alleviate pressure on XRP. A clearer position for Ripple in this lawsuit could also pave the way for potential ETF applications.
It is anticipated that the SEC will establish clearer rules for the cryptocurrency market during this process. Experts suggest that the Ripple case could serve as a pivotal moment, not only for the company but for the broader cryptocurrency sector. The outcome of this case may bring more attention to the regulatory gaps facing the industry.
XRP Price Resistance and Future Expectations
While the XRP price struggles against the $2.50 resistance level, investors are hopeful for a breakout. Notably, popular crypto investor Seyma has set a weekly target between $3 and $3.24. However, investors continue to evaluate these views through their analyses.
Price expectations are shaped by ETF developments and the ongoing legal proceedings. Potential ETF approval and a decrease in regulatory uncertainties could bolster XRP’s value. Nevertheless, market participants are proceeding with cautious optimism.
According to technical analyses, movements above $3 for XRP could enhance long-term investor interest. However, these levels have yet to be tested. Market fluctuations necessitate careful consideration from investors.
