The post Ripple Wins Boost XRP ETF Approval Chance, Eyes $20 Target appeared first on Coinpedia Fintech News
In July, many crypto traders expected a settlement in Ripple’s legal case. Finally, the federal judge has now ordered Ripple to pay $125 million in fines and follow new rules to prevent future legal problems. The court’s decision clarified that XRP itself is not a security.
This ruling opens the door for the potential approval of a spot XRP ETF, which could be great news for investors.
XRP ETF Is Coming Soon?
Kashif Raza, founder of Bitinning, highlights that Ripple’s recent legal fine was due to its sales of XRP to institutional investors, which were ruled to violate securities laws. Fortunately, the court determined that XRP sales to regular investors did not breach any regulations, offering relief to the XRP community.
XRP sales to institutions were a violation of securities law. Pay $125 million fine.XRP sales to retail was not a violation of securities law.Relief to the XRP community… You can expect XRP ETF applications soon.
— Kashif Raza (@simplykashif) August 8, 2024
With the legal issues surrounding XRP’s retail sales now resolved, excitement is growing about new financial opportunities for cryptocurrency.
Raza is optimistic that XRP might soon be included in Exchange-Traded Fund (ETF) applications. Such inclusion could open up new investment avenues and significantly boost XRP’s visibility and presence in the financial sector.
Ripple & SEC To Work On XRP ETF
Popular Crypto trader Doctor Profit suggests that Ripple and the SEC might be working on an XRP ETF, predicting approvals for Bitcoin first, then Ethereum, and XRP.
$XRP – The Big Report:Everyone who knows me understands that I'm a major investor in XRP. This report is going to lay out the facts and show you exactly where we’re heading next.XRP is a masterpiece for the long term. If you’re thinking of making a quick buck with day trading… pic.twitter.com/w6ww9uSE6v
— Doctor Profit (@DrProfitCrypto) August 7, 2024
With the lawsuit over, large investors who were previously hesitant can now invest in XRP with confidence. This clarity is expected to positively impact XRP’s market, with signs showing strong growth potential.
XRP missed a bull run in 2021 due to legal challenges, but now, with those issues resolved, the market is set for growth. He predicts that XRP could reach between $16 and $20 within a year. However, in a less optimistic case, the price might be between $4 and $7.
