Could the Potential Launch of an XRP ETF Drive the Price of the Cryptocurrency to a $20 All Time High?

Following the launch of Spot Bitcoin ETFs, Bitcoin (BTC) experienced a dramatic price surge  to new all time highs. This begs the question of whether

Bitcoin (BTC) price experienced a dramatic surge to new all time highs following the launch of Spot Bitcoin ETFs. As the almost four-year-long legal battle between Ripple Labs and the United States Securities and Exchange Commission (SEC) nears its conclusion, and with XRP being ruled as not security by the Court, many are left wondering if the potential launch of an XRP ETF could drive the price of the cryptocurrency to a $20 all time high.

Afterласти правке: Апр 2023 г., 00:46:01 UTC

Bitcoin ETF Launches Saw BTC Surging To New All Time Highs

Bitcoin price surged dramatically to new all time highs following the launch of Spot Bitcoin ETFs. This begs the question of whether the potential launch of an XRP ETF could drive the price of the cryptocurrency to a $20 all time high.

After almost four years of legal battle, the Court ordered Ripple Labs to pay $125 million in civil penalties to settle the case with the SEC over XRP sales, which were deemed to be in violation of securities laws. However, Judge Analisa Torres clarified that XRP is not considered a security by the ruling, providing much-needed legal clarity for XRP and the broader crypto space.

With Ripple's regulatory status now settled, it could pave the way for an XRP ETF. Bitnning Founder Kashif Raza also expressed optimistic expectations for the potential launch of new XRP ETF filings.

In an X (formerly Twitter) post, Raza noted that while XRP’s sales to institutional investors were in violation of securities laws, selling to retail investors does not violate any laws. The Bitnning founder sees this differentiation as a positive development for the XRP community.

Expecting an XRP ETF in 2024-2025, crypto enthusiast Amelie shared her thoughts, stating that “Ripple's new found regulatory clarity could set the stage for an XRP ETF between 2024 and 2025.” Additionally, crypto analyst Tony Edward declared that the odds of an XRP ETF have “grossly increased.”

Despite Ripple's legal victory, Edward revealed that the XRP market is not in a bullish sentiment phase at the moment. However, the analyst acknowledges that XRP now has a clear path for a bullish take-off as the market progresses. He emphasized that when the cryptocurrency regains its bullish momentum, it will be free from the dark cloud of litigation and legal challenges.

Could An ETF Send XRP Price To $20?

The price of XRP surged over 25% following the settlement order and court's ruling that XRP is not a security, crossing the $0.6 mark and inching closer to $0.7. The legal resolution has fueled speculations about the potential introduction of an XRP ETF, which could significantly impact XRP's value.

Considering Bitcoin's surge to new all-time highs after the launch of its ETF, it’s plausible that XRP could reach $20 if an ETF is launched. Sharing similar bullish sentiments, Edward has set a more conservative bullish target for XRP in the event of an ETF launch. The analyst predicts that XRP could rise between the price range of $4 to $8.

On the other hand, BitTrue crypto analyst and ambassador Brett Hill considers a $4 to $10 target for XRP to be overly pessimistic. He shared a more optimistic projection for XRP, predicting that the cryptocurrency could reach between $18 to $20 within the next one to six months.

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