Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
XRP, Ripple Labs' associated currency, is back in the crypto spotlight as its value continues its resilient journey. Amid its bullish sentiment, Nate Geraci, President of the ETFStore, has made a bold prediction about XRP's future outlook.
Factors favoring an XRP ETF
In a post shared on X, Geraci highlighted that with an end to Ripple’s lawsuit, XRP could experience bullish developments. He opines that once all legal uncertainty is out of the way, regulatory clarity could pave the way for massive institutional adoption.
Notably, Geraci predicted that spot XRP exchange-traded fund (ETF) approval is imminent for the altcoin. "Seems obvious spot XRP ETF approval simply a matter of time IMO," he stated.
The ETFStore President believes that if XRP gains regulatory approval from the U.S. Securities and Exchange Commission (SEC), it might see massive adoption. This could make XRP the next altcoin after Ethereum to clinch an ETF.
Institutional adoption could come from major asset managers like BlackRock, Fidelity Investments and other big names in the sector.
‘Largest ETF issuers aren’t going to ignore this,’ Geraci noted.
XRP is currently occupying the fourth position in cryptocurrency ranking by market cap and about $2 billion away from claiming the third position from Tether.
New U.S Administration Bullish for XRP?
Analysts agree with Geraci, pointing out that the current optimism for XRP ETF approval aligns with the shift in SEC policy. They argue that a regulatory green light for XRP ETF might not prove difficult with the U.S. now under a more crypto-friendly administration.
Additionally, the SEC has shown that disposition by dropping appeals and lawsuits against other crypto entities, including Kraken and Coinbase.
Interestingly, Stuart Alderoty, Ripple’s Chief Legal Officer, has stated that the lawsuit is over. As part of the settlement, U.Today reported that the SEC gets to keep $50 million out of the earlier $125 million fine slapped on Ripple in August 2024.
U.Today Editorial Team
Dan Burgin
