The approval of Spot Bitcoin ETF and Spot Ether ETF has paved the way for other crypto ETFs to make their way to the market. Analysts have often said that it is now not a matter of if, but a matter of when. This implies that the trading floor will eventually welcome more crypto ETFs. One digital asset stealing the spotlight at the moment is Ripple’s XRP. This comes despite the community’s waiting for the final verdict on the ongoing lawsuit.
Additionally, XRP is marking upticks that demonstrate better performance than Bitcoin. That has led experts to believe that XRP could potentially launch its own ETF in the near future. Needless to say, this is only a possibility and does not necessarily equate to any form of assurance.
The only factor working against the launch of the XRP ETF is the ongoing lawsuit with the US Securities & Exchange Commission. A final verdict on the matter will help the community better support their arguments. Until then, it is unlikely that Ripple will launch its regulated crypto investment vehicle. Ripple is accused of offering securities without registration. The verdict is expected to have a lasting impact on a broader level in the crypto market.
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There is a possibility that XRP ETF will go live. Brad Garlinghouse, the Chief Executive Officer of Ripple, has clearly stated that ETFs of other crypto assets are inevitable, further emphasizing that several projects in the ecosystem make unique contributions to the DeFi and digital assets industry.
Another notable personality from the crypto space to back the possibility is Larry Fink, the Chief Executive Officer of BlackRock. Larry had reportedly declined to issue a detailed comment, but the response made up for optimistic speculation.
Also, there are talks about Ripple and BlackRock planning to collaborate for the ETF. If this is indeed the case, it would enhance the token’s accessibility and legitimacy, thereby boosting the confidence of both investors and the market.
XRP’s performance in 24 hours is commendable, as it has outperformed the flagship digital asset. At press time, XRP has grown by 7.14%, while BTC has dipped by 0.32% in the last 24 hours. XRP is exchanging hands at $0.6406. Analysts speculate that it is important for the token to surpass the resistance zone of $0.65; otherwise, it could soon see declines on the book. The aim is to certainly inch closer to the mark of $1 by the end of this year; however, volatility could factor in to hamper that trajectory.
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The ongoing value of XRP is up from ~$0.5977 in a single day and ~$0.5996 in a week. XRP is expected to reach $0.789 in the next 5 days and $0.79 in the next 30 days, according to near-term projections. The monthly surge will roughly translate to a jump of 21.06% from the current value.
