Although it is currently quiet around XRP, we don’t have to look far back to see that it was previously a spectacle. November and January were strong months for XRP investors. The race rose around $ 0.50 from a local soil and came close to breaking its all-time high (ATH) of $ 3.40, an impressive performance.
That increase could just continue in the coming weeks and months. That is why analyst Abdul explains that it can be smart to own at least 1,000 to 10,000 XRP. For this there are three bullish catalysts.
XRP ETF Launch
It seems closer than ever, a launch of an XRP Spot Exchange Traded Fund (ETF). With the departure of Gary Gensler, the former chairman of the Securities and Exchange Commission (SEC), another wind seems to be sailing at the regulator.
According to various analysts, chances are that we will see an XRP fund this year. James Seyffart and Eric Balchunas, for example, estimate the chance of 65%. There will be more clarity at the latest in October, since the SEC has to make a decision by that time. It is also possible that the government agency gives approval for the deadline.
SEC Legetal
The smoother attitude of the SEC compared to crypto ETFs seems to be a harbinger for a broader relaxation of policy towards the crypto sector. We have already seen several lawsuits, including those against Coinbase and Non-Fungible token (NFT) Platform OpenSea, are being withdrawn.
The big question now is: is the Ripple case the following? After a fight of five years, a definitive statement could have a huge impact on the XRP rate.
XRP in American strategic reserve
One of the most ambitious predictions is that XRP can be used by the US government as a digital reserve Activum. Ripple is already in conversation with policy makers, and CEO Brad Garlinghouse has discussed Blockchain technology with influential leaders, including Donald Trump.
If XRP is actually included in the American reserves, this can lead to an astronomical price rise. With a current market capitalization of around $ 144 billion, the digital currency only represents a fraction of the $ 36 trillion of US national debt.
Why 1,000 to 10,000 XRP owns is interesting
With the most conservative estimate, an ETF approval, Abdul expects an investment of 1,000 XRP, that you will now cost around $ 2,490, can double to $ 4,980.
When the XRP was told in the summer of 2023 that the sale on exchanges is not covered by the securities legislation, we also saw a doubling within a day. If the case turns out well again, for example with a settlement, we could once again be a doubling. Paired with the ETF approval you will then arrive at an XRP rate of $ 9.76. Your 1,000 XRP investment is then worth almost $ 10,000.
Finally, the inclusion of XRP in the American strategic reserve is the least likely scenario, but the most impactful. Analyst Abdul predicts that in that case the token could rise to an astronomical $ 955. With 1,000 XRP you would have almost $ 1 million in your hands. Whether this will actually happen and whether this prediction is realistic? That remains the big question.
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Source: https://newsbit.nl/waarom-1-000-tot-10-000-xrp-bezitten-een-slimme-zet-kan-zijn/
