It turns out that Brad Garlinghouse, the head of Ripple, made a master move and withdrew the cross appeal they had against the SEC. And what does that mean? Well, the price of XRP shot up 5% immediately! It's like they poured gasoline on the rocket. This move has ignited the wick of hope for many, especially for those dreaming of an XRP ETF on American soil! 🇺🇸
This bombshell news came just after a judge denied a joint request from Ripple and the SEC to reduce a fine and overturn a previous order. But with the withdrawal of the appeal, Ripple is showing that it has sky-high confidence in its business and that they are doing things right. If the SEC also withdraws its appeal, it would end the four-year lawsuit they had! And that would give a breather and clarity to other crypto companies that are under the SEC's scrutiny. It would be like lifting a weight off their shoulders! 😮💨
Experts already see the XRP ETF at the door! 🚪
With this outlook, many market experts are already making their bets: they see a clear path for a spot XRP ETF in the United States! And it gets more interesting because, watch out!, it is rumored that BlackRock, one of the heavyweights in the financial world, could be the one leading the initiative. While the U.S. is still considering it, Canada has already jumped ahead with its '3iQ XRP ETF', and they already have $32 million under management! This shows that people are eager to invest in XRP. 🇨🇦💰
Nate Geraci, an ETF guru, says that this decision by Ripple changes everything and that the chances of the XRP ETF being approved are higher than ever. Even Bloomberg analysts have raised the probability to 95%! And on Polymarket, they give it a 78% chance by the end of the year. The expectation is tremendous, and if there is legal clarity, more large companies will be encouraged to launch their own XRP-backed ETFs.
If this ETF is approved, the adoption of XRP would skyrocket and the price would soar! 🚀 But it's not all about the ETF. David Schwartz, the technology genius at Ripple, stated that real adoption would grow a lot if XRP became more 'interoperable' with other blockchains. And it seems they are already working on that because Wormhole made an announcement that goes in that direction!
$10 for XRP? A dream that could come true! ✨
Although XRP has been on a roller coaster, dropping more than 35% from its peak in the first quarter, and has had a somewhat weak first half, not everything is lost! The coin is holding strong in a key support area and is consolidating. It's like when one prepares to take the big leap. 🤸♂️
Despite what happened in the first half of the year, the environment is changing: bullish sentiment is rising, chain activity is at its peak, there are important integrations, and most importantly, legal clarity is approaching! All of this points to the possibility that we could see a price breakout for XRP soon. If demand reaches a happy ending, we could see XRP returning to its first-quarter peak, which was around $3.39, and it could even go higher!
And here comes the most exciting part: there are analysts like Captain Redbeard who dare to say that XRP could skyrocket to $10 if it bounces back strongly from the current zone! Can you imagine? 🤯
So, my people, stay tuned because the saga of XRP and the SEC is about to end, and that could open the doors for this cryptocurrency to soar higher than ever. Don't lose track of XRP, because things are getting exciting! $XRP