XRP's fourth $10 is just around the corner? Four major factors boost the bull market!
XRP has rebounded strongly recently, with prices soaring by more than 40%, rekindling investors' expectations for a target price of $10.
1. Ripple's initial public offering (IPO)
The market speculates that Ripple plans to IPO in the United States, which may become a catalyst for the surge in XRP prices. In particular, the IPO became more intense after Ripple founder Brad Garlinghouse revealed that the company plans to repurchase $1.4 billion in shares. Although Garlinghouse said that the IPO will not be carried out immediately due to the SEC's regulatory environment, investors still have hope for Ripple's future listing in the United States. In addition, former director Sean McBride revealed that Ripple may conduct an IPO overseas next year, which is a positive factor for the rise in XRP prices.
2. XRP ETF approved
The launch of exchange-traded funds (ETFs) may push XRP prices above $10. Following the approval of Bitcoin and Ethereum ETFs, XRP and SOL have become the next targets of expectation. At present, asset management companies such as VanEck have submitted applications for SOL spot ETFs, and the possibility of XRP ETFs being approved in the future will inevitably increase. McBride expects XRP ETFs to be listed this year or next year, while Garlinghouse optimistically estimates that it will be by 2025.
3. The SEC v. Ripple case is settled
The SEC v. Ripple case is a sword hanging over XRP's head and one of the main factors hindering its price increase. The case was filed in 2020 and has not been closed until now, which has seriously hindered XRP from reaching a new high in 2021. As the case is coming to an end, industry insiders such as Garlinghouse expect a final result before the end of this year. If the final result is favorable to Ripple, XRP prices may rebound sharply.
4. XRP's extensive cross-border payments
XRP's cross-border payment potential is also an important factor driving its price increase. Ripple's payment solutions, especially ODL, use XRP as a bridge currency to achieve cross-border payments with high efficiency. As global cryptocurrency regulation becomes clearer, especially with the SEC v. Ripple case, U.S. financial institutions may be more inclined to use XRP for cross-border settlement, which will significantly increase the demand and price of XRP.
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