XRP Price Poised to Spike: ETF Possibility and SEC Lawsuit Conclusion Fuel Optimism

IconCryptoNewsTerminal Staff23 Jul, 2024

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XRP Price Poised to Spike: ETF Possibility and SEC Lawsuit Conclusion Fuel Optimism

WatcherGuru, a reputable crypto media source, anticipates the release of another cryptocurrency ETF in the wake of the recent approval of an Ethereum (ETH) spot ETF in the United States market. XRP (Ripple) and Solana (SOL) are potential contenders for this ETF, which could bolster XRP's value in the final quarter of 2023. For XRP to experience a significant surge, three key catalysts are crucial: 1. Reduced token control by whales 2. Enhanced technical daily performance 3. A favorable resolution of the SEC lawsuit Ripple Labs CEO Brad Garlinghouse has expressed optimism regarding the lawsuit's conclusion. A combination of positive developments could propel XRP toward the $1 mark, potentially ranking it among the top five cryptocurrencies by market capitalization. Currently, XRP is trading at $0.5994, reflecting a slight decrease of 1.22%, as per CoinMarketCap.

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