On June 17, the U.S. Securities and Exchange Commission (SEC) will make a decision on a Spot XRP Exchange-Traded Fund (ETF).
If the application is approved, XRP could become the second altcoin with its own Spot ETF after Ethereum (ETH). The approval of Bitcoin ETFs earlier this year led to billions in inflows of institutional capital. A similar development for XRP could also create additional demand, which could have a positive effect on the price.
The Chance of Approval is High The estimate for ETF approval is 77%. This is significant, especially compared to previous ETF applications. The market is seriously expecting a positive decision from the SEC.
Ripple (XRP) may be on the verge of a historic turning point. Speculations about a possible use of XRP by the US Treasury are capturing the attention of the crypto community.
Such a move could not only confirm the long-term significance of XRP but also trigger a bull market. But how can you, as an investor, benefit from this development? Let's take a look at the background. Why might the US Treasury have an interest in Ripple? XRP was specifically designed for fast and cost-effective cross-border transactions – an area that the Treasury is eager to modernize. The current executive order to transition to digital payment methods underscores this interest. If the US Treasury uses XRP, the speculation phase will be over, and a rally will begin. Such a development could transform XRP from a speculative asset into an indispensable tool in the financial system.
The Potential of XRP If XRP is indeed integrated into the financial systems of the USA, this could lead to a significant price increase.
Ripple has been working for years to transform the financial world with its XRP token – particularly in the area of international payments. In this vast market, where trillions of dollars are moved daily, XRP offers a faster and more cost-effective alternative to traditional payment networks. Interestingly, the token is increasingly being recognized by established financial companies.
Mastercard relies on XRP A recent report shows that Mastercard also sees potential in XRP and now officially recognizes the cryptocurrency as a bridge currency.
Do you think this collaboration will cause the XRP price to explode?
Shiba Inu (SHIB) is attracting attention with an over 300% explosion in the burn rate. The price is rising, and technical indicators suggest a potential rally of 70%. Is this upswing sustainable?
A 30-fold increase in the XRP price in May to over $70 is extremely unlikely. An increase of 2 to 5 times is more realistic if a spot ETF is approved, XRP futures successfully launch, and the crypto market remains bullish. Even without 30x, the upside potential would be substantial. #xrp #Ripple #ToTheMoon🌕✨ #HotTrends #HODL
What stands out at the moment regarding XRP is that large investors, known as whales, are once again actively buying, as indicated by data from the blockchain analysis platform Santiment. Since April, the number of wallets holding tens of millions of XRP has significantly increased. At the same time, the supply on exchanges is rapidly decreasing. This usually only means one thing: large investors are choosing to hold their tokens rather than sell them.
The XRP price was able to bounce bullishly at the 50-week EMA at around 1.62 USD and rose to the 0.382 Fib resistance at about 2.29 USD. However, the price failed to break through this resistance. If Ripple can hold the Golden Ratio support at 1.45 USD, the uptrend remains intact. In the short term, however, the indicators show bearish signals, indicating a possible correction. Against Bitcoin, XRP was unable to overcome the Golden Ratio resistance at 0.000029 BTC but found support at 0.00002366 BTC. #xrp #Ripple #bullish #BTC
Ripple and Cardano: Cooperation to Strengthen Both Networks
According to industry reports, Brad Garlinghouse (Ripple) and Charles Hoskinson (Cardano) are in talks about a strategic alliance. The goal is to bring the Ripple stablecoin RLUSD to Cardano's Midnight sidechain. This sidechain is focused on privacy and could unlock new use cases through RLUSD.
A potential milestone in crypto collaboration is emerging: According to Charles Hoskinson, there have already been discussions with Ripple CEO Brad Garlinghouse and CTO David Schwartz about integrating the Ripple stablecoin RLUSD into Midnight. The privacy-focused layer-2 solution could significantly benefit from a stable, interoperable means of payment.