The conclusion of the Ripple vs SEC lawsuit opens up significant opportunities for the approval of the XRP ETF in the United States.
The legal clarity following the lawsuit helps affirm that XRP traded on public exchanges is not a security, setting a favorable precedent for XRP ETF applications to be approved in the near future.
MAIN CONTENT
The end of the Ripple lawsuit clarifies regulations regarding XRP, facilitating the XRP ETF.
Experts and investor sentiment are highly optimistic about the approval rate of the XRP ETF.
The SEC is expected to make a final decision on the XRP ETF between mid and late October.
How does the dismissal of the Ripple lawsuit affect the XRP ETF?
The conclusion of the Ripple lawsuit with the SEC on August 8 confirms that XRP traded on public exchanges is not a security, while prior institutional trades are subject to securities laws. This is a major turning point in resolving legal disputes related to XRP.
After the lawsuit was dismissed, market sentiment improved significantly with the likelihood of XRP ETF approval rising to 85%. Polymarket currently assesses this probability at around 73%, reflecting positive expectations from investors and institutions.
How do experts evaluate the opportunity for an XRP ETF?
Cryptocurrency expert Kenny Nguyen predicts that XRP could reach between $22 and $50 when the wave of XRP ETFs emerges, with a potential market capitalization of up to $1.3 – $3 trillion.
"I am fully confident that there will be an XRP ETF this year." – Steven McClurg, CEO of Canary Capital, 2024.
Excerpt from a podcast interview with Paul Barron, 2024
McClurg expects the ETF launch event to attract $5 billion in investment in the first month due to strong institutional demand, driven by the official conclusion of the lawsuit. The Frankfurt Stock Exchange also confirms that the end of the lawsuit will remove legal barriers for the XRP ETF.
Bloomberg experts predict the probability of XRP ETF approval to be as high as 95%, reinforcing confidence in this positive signal in the market.
When will the SEC approve the XRP ETF application?
Many large funds like Grayscale XRP, 21Shares, Bitwise, Canary Capital, Wisdom Tree, Franklin Templeton, CoinShares, RexShares Rex-Osprey, and Volatility Shares have submitted XRP ETF applications. However, the SEC is still delaying the approval.
The deadline for the SEC's final decision is set between October 18 and 25, 2024, according to forecasts from the market and experts. Investors are closely monitoring this development to plan accordingly.
Frequently asked questions
What does the conclusion of the Ripple lawsuit mean for XRP?
The lawsuit confirms that XRP traded publicly is not a security, creating a favorable legal precedent for the approval of the XRP ETF.
When could the XRP ETF be approved?
The SEC is expected to make a final decision between October 18 and 25, 2024.
Who are the entities that have submitted XRP ETF applications?
Grayscale XRP, 21Shares, Bitwise, Canary Capital, Wisdom Tree, Franklin Templeton, CoinShares, RexShares Rex-Osprey, and Volatility Shares have participated.
What do experts predict about the effects of the XRP ETF?
Experts expect the XRP ETF to create significant growth, attracting billions in investment and pushing XRP's market cap to several trillion dollars.
What is the market reaction after the Ripple lawsuit?
Positive sentiment, increased likelihood of ETF approval, with many investors anticipating new opportunities for XRP.
Source: https://tintucbitcoin.com/xrp-kien-tung-nguy-co-that-bai/
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