Major institutions have simultaneously updated their XRP ETF filings following the ruling that ended the Ripple-SEC case, significantly strengthening expectations for a new price increase of XRP.
Whale actions, the ETF filing adjustments by the seven issuers, and positive information from the Ripple-SEC lawsuit have stirred the market, boosting optimistic sentiment about XRP's price prospects.
MAIN CONTENT
Seven major issuers simultaneously updated their XRP ETF filings after the Ripple-SEC case was completely dismissed.
Expert analyses and opinions suggest a high likelihood of XRP ETF approval in the short term.
The market is showing signs of whale accumulation, setting expectations for a strong upward wave of XRP in the near future.
Who are the seven ETF issuers that updated their XRP ETF filings again?
Seven major organizations including Bitwise, Canary, CoinShares, Franklin Templeton, Grayscale, WisdomTree, and 21Shares have simultaneously submitted additional XRP ETF filings in the United States on August 22, right after the Ripple-SEC lawsuit concluded. This is an important move that demonstrates the seriousness of major issuers towards the XRP ETF product, as well as a strong expectation for positive developments from regulators.
All these filings are updated based on feedback from the U.S. Securities and Exchange Commission (SEC). The coordinated and rapid actions from these asset management organizations are creating momentum for market confidence in the early approval of XRP ETF in the United States, contributing to boosting liquidity and accessibility of products for traditional investors.
What is the significance of seven issuers submitting additional XRP ETF filings?
The simultaneous adjustment of filings to meet new requirements and feedback from the SEC, according to analyses by international ETF experts, is a positive signal for the XRP ETF approval process. James Seyffart, an ETF analyst at Bloomberg, noted that this update is a welcome development, showing that parties are in close dialogue with the regulatory authority.
It is almost certain due to feedback from the SEC. This is a good sign, although most of it had been anticipated.
– James Seyffart, ETF analyst, Bloomberg, 2024, source: X (Twitter)
Similarly, Nate Geraci, co-founder of the ETF Institute, also called this a very noteworthy signal that the market is truly monitoring and responding timely to legal developments — a key condition for building trust and paving the way for the official approval of the NSF.
How was the Ripple-SEC lawsuit resolved?
A major turning point that marks stronger confidence for XRP ETF is that the Second Circuit Court of the United States officially approved the proposal to suspend the lawsuit between Ripple and the SEC on August 22 (Vietnam time). Both parties jointly filed a request to end the appeal, and the judiciary agreed, completely eliminating the lingering legal barriers surrounding XRP in particular and XRP ETF in general.
This decisive solution not only prompts ETF issuers to actively update their filings but also boosts the optimistic sentiment for investors and many financial institutions participating in the cryptocurrency market in the United States. As a result, the uncertainty that previously hindered large capital inflows into XRP is gradually being lifted.
What actions are being taken in the derivatives market and what are the forecasts for XRP ETF approval?
The recent peak trading volumes of XRP futures on the CME have been interpreted by many analysts as evidence of significant demand and anticipation for the XRP ETF.
The probability of XRP ETF approval in October is up to 95%, according to forecasts from the Bloomberg ETF analysis team.
– Bloomberg ETF data, 2024
Additionally, signals from the options market also indicate that investors are significantly increasing call option purchases targeting a price of up to $4, ranking second among the most active trading options after positive news about the XRP ETF and the Ripple lawsuit emerged. Notably, the $4 mark for September and December is currently being traded the most, reflecting significant expectations for a new rising cycle for XRP in the near future.
How did XRP's price fluctuate after this event?
Immediately after the information was published, XRP's price surged by 7% from $2.7 to $3.1 (converted to Vietnam time, on Friday). Notably, selling pressure did not increase in line with this surge, especially from whales holding large amounts of XRP.
Data from CryptoQuant confirms that the amount of XRP transactions from large wallets to exchanges has decreased, reflecting the accumulation trend of large capital flows, rather than short-term profit-taking.
What does whale activity indicate about XRP's prospects?
Whales are withdrawing large amounts of XRP from exchanges to private wallets, indicating they expect the price of XRP to continue rising and are not in a hurry to take profits despite the recent significant price increase. This trend reinforces confidence in XRP's continued growth amid a market lacking large-scale selling pressure.
This action also reflects a new momentum for a long-term price increase, as when whales do not sell, short-term supply decreases, facilitating the next upward wave, especially when legal factors and ETF prospects are currently positive.
What factors are driving the success probability of the XRP ETF?
A combination of many factors has created a strong wave of optimism around the likelihood that the XRP ETF will be officially approved soon. The coordination between ETF issuers, proactive responses to SEC requirements, a liquidity explosion in the derivatives market, and strong accumulation behavior from whales are vivid evidence for this.
In addition, the market is also witnessing clear shifts in investment sentiment, as options traders and institutions continuously bet on the possibility of XRP rising sharply in the last quarter of the year.
What is the assessment of XRP's price prospects and breakout potential after the new information?
With support from positive legal developments, strong large capital flows, and long-standing expectations from the traditional investment market, XRP's price is forecasted to have further growth potential. However, reaching or exceeding the $5 mark still requires more accumulation time, as the trend of bringing ETFs into operation often unfolds gradually according to the SEC's risk management standards.
In both the short and medium term, the possibility of surpassing the $4 mark and approaching $5 is assessed as wise based on derivatives market data and whale accumulation trends, but must still be placed in the context of closely monitoring the next moves of regulators and ETF issuers.
Frequently Asked Questions
Who are the seven XRP ETF issuers?
Seven issuers including Bitwise, Canary, CoinShares, Franklin Templeton, Grayscale, WisdomTree, and 21Shares have updated their XRP ETF filings simultaneously, demonstrating the consistency and scale of the process.
How does the final ruling of the Ripple-SEC lawsuit directly impact the market?
The dismissal of the lawsuit removes a major legal barrier, helping to free investor sentiment and encouraging organizations to actively refine their XRP ETF filings.
What signs indicate that investors have very high expectations for the XRP ETF?
The trend of call options at $4 for September and December, along with significant accumulation by whales, indicates a strong expectation of large capital inflows towards XRP's breakout potential.
Why do experts assess the likelihood of XRP ETF approval at 95%?
Bloomberg experts predict this probability due to the complete removal of legal risk, positive collaboration between parties, and strong demand in the derivatives market.
Can XRP's price surpass $5 after the ETF is approved?
XRP has the potential to break out thanks to the ETF push, but this process needs more accumulation time and depends heavily on the next developments from the SEC and the issuers.
Source: https://tintucbitcoin.com/7-cong-ty-dua-nhau-ra-mat-xrp-etf/
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