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YEREVAN (CoinChapter.com) — XRP has been trading steadily around the $0.53 mark, showing little movement over the past month. Despite this underwhelming performance, a crypto educator known as “Mystery of Crypto” highlights ten factors that could propel XRP to significant price gains.
XRP Marketcap Explosive Growth Chart. Source: @Mysteryofcrypt Ripple-SEC Legal Battle Nearing its Climax
The ongoing Ripple-SEC lawsuit is critical for XRP’s price due to the regulatory clarity it will provide.
The case, which has been ongoing for over three years, questions whether XRP is a security. If the court rules in Ripple’s favor, confirming XRP is not a security, it would remove legal obstacles that have limited its adoption and use. This clarity could attract institutional investors who have hesitated due to regulatory ambiguity, increasing demand and driving up XRP’s price.
Additionally, the lawsuit’s outcome will impact Ripple’s business operations. The SEC has demanded significant penalties and restrictions on Ripple’s activities. If Ripple successfully defends against these demands, it would enable the company to expand its services and partnerships without legal constraints.
This expansion could enhance XRP’s market liquidity and utility. The final judgment, expected in the third quarter of 2024, will keep investors closely watching the developments, indicating their potential impact on XRP’s future valuation.
Ripple is Launching a New Stablecoin
Ripple plans to introduce a U.S. dollar-pegged stablecoin named RLUSD on the XRP Ledger, thereby attempting to secure a solid position in the market ruled by Tether (USDT) and Circle (USDC).
RLUSD aims to expand Ripple’s ecosystem by attracting more users to the XRP Ledger, which is projected to have a market cap of around $3 trillion by 2028. That is about the same as the net valuation of the crypto market.
Stablecoin Market Growth Projection. Source: Ripple XRP Documentary Will Be Released on Netflix
Fruition Productions is releasing a documentary titled “XRP Unleashed” on Netflix. The documentary details XRP’s history, development, and the Ripple-SEC lawsuit. It includes interviews with key figures like attorney John Deaton, Ripple personnel, financial advisors, and legal experts.
XRP Unleashed Trailer Announcement. Source: Fruition Productions
This detailed examination will highlight the legal battles and market disruptions faced by XRP, providing viewers with a comprehensive understanding of its journey. Increased exposure through Netflix could enhance market confidence and potentially drive up the price of XRP due to heightened visibility and interest.
Buzzing Rumors of an XRP Spot ETF
Speculation about approving a spot XRP exchange-traded fund (ETF) has been circulating in the crypto community. While ETF analyst James Seyffart is skeptical about its immediate arrival, the possibility has generated significant buzz.
Standard Chartered Bank ETF Announcement. Source: Watcher.Guru
An XRP Spot ETF would provide a new avenue for institutional investment, increasing market liquidity. The anticipation alone has already stirred interest among potential investors.
CoinMetrics Re-adds XRP to its Index
CoinMetrics has reinstated XRP in its CMBI 10 Index, signaling renewed confidence in the cryptocurrency. This inclusion highlights XRP’s stability and market relevance, making it an attractive option for institutional investors who rely on major indices for portfolio decisions.
Being part of the CMBI 10 Index serves as an endorsement of XRP’s long-term potential and market strength.
XRP Reinstated in CMBI10 Index. Source: WrathofKahneman Coinbase Re-enables XRP Trading in New York
Coinbase, the largest U.S.-based exchange, has relisted XRP for trading for New York residents, expanding access to the cryptocurrency. The exchange had halted XRP trading in January 2021 following the SEC’s lawsuit against Ripple. However, after a court decision indicated that XRP is not a security, Coinbase relisted it in New York.
XRP Trading Resumes on Coinbase in New York. Source: Paul Grewal Ripple’s IPO Launch Plans
Ripple has announced plans to go public, aiming to launch an Initial Public Offering (IPO).
Although these plans are currently on hold, the potential IPO has created a buzz in the market. Going public would increase Ripple’s transparency and financial stability, positively impacting XRP. An IPO could attract a new wave of investors interested in both Ripple’s stock and XRP.
XRP Secures a UK FCA License
Ripple has obtained a license from the UK Financial Conduct Authority (FCA), broadening its regulatory reach. This license allows Ripple to operate more freely in the UK, one of the world’s leading financial markets.
Regulatory approval from a reputable authority like the FCA enhances XRP’s credibility and appeal. It also paves the way for broader adoption and integration within the UK’s financial ecosystem.
Launching RWA Tokenization
Ripple plans to launch tokenized real-world assets (RWA) on the XRP Ledger. Simply put, the company aims to bring physical assets, such as real estate and commodities, into the digital realm, a decision that may prove bullish for the XRP market.
Ripple’s CTO, David Schwartz, has expressed strong confidence that the XRP Ledger will become the preferred platform for tokenization within the next 18 months. He emphasized the XRPL’s advantages, including its low transaction fees, seamless integration with decentralized exchanges, and flexibility in handling a wide range of assets.
This development is poised to significantly expand XRP’s use cases and enhance its market value, ultimately making financial products more accessible and efficient.
Completion of U.S. Money Transmitter Licenses
Ripple has completed obtaining money transmitter licenses across various U.S. states, strengthening its regulatory compliance. These licenses allow Ripple to operate more effectively and expand its services in the U.S. market. Enhanced regulatory compliance increases investor confidence and provides a solid foundation for growth. It also positions XRP favorably for wider adoption in the financial sector.
These ten factors collectively highlight why XRP is poised for potential explosive growth. Each development adds a layer of credibility, utility, and market appeal, making XRP an asset to watch in the coming months.
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