XRP suffers a heavy blow as BlackRock abandons ETF plans; the crypto market is in turmoil again!
XRP has recently faced a severe blow. Although Ripple has been achieving victories in the legal arena, asset management giant BlackRock announced that it does not intend to launch an XRP ETF, a move that undoubtedly casts a shadow over XRP's future development and seriously threatens its price potential.
Just recently, Ripple achieved a partial victory in its long legal battle with the SEC, which delighted XRP supporters who felt that the entry of institutional investors was just around the corner. The market had widely speculated that once the regulatory fog lifted, BlackRock would be one of the heavyweight players to first position itself in XRP. However, reality dealt a cruel blow.
